Kuhoo, a student loan fintech incubator located in Mumbai, has received a record $20 million in venture investment from Westbridge Capital. The fintech business plans to use the funds to give online loans to students who want to study at institutions in India and overseas.

The round is an equity transaction, according to Kuhoo, and the funds will be utilised to expand technology, data science capability, and create product and distribution innovations.

Kuhoo's founder, Prashant A. Bhonsle, remarked, “We combine our vast experience with advanced technology and data science to create risk and credit models. These models help us evaluate students’ potential employability and future incomes for various courses students enrol in. With this unique ability, Kuhoo can offer different products best suited to individual profiles of students from varied family backgrounds.”

Kuhoo was founded in 2021 by Bhonsle and offers student loans in a variety of fields, including MBA, executive education, online courses, coaching classes, and even new age courses. It develops goods based on academic backgrounds, college, course ranks, and career possibilities of pupils.

The company said that it has hired experienced worldwide expertise from the fields of technology, data science, consumer lending, and student financing. It will work with banks and other NBFCs, as well as leading universities and coaching centres throughout the world, in addition to introducing its revolutionary products.

Westbridge Capital Partners cofounder and managing director Sumir Chadha stated, “West Bridge Capital has been committed to financial inclusion through long term investments in sectors like affordable housing finance and education. We strongly believe that Kuhoo will play an essential role in making these high-cost courses affordable, mainly for middle-class Indian families. We are excited to back Prashant and his talented team at kuhoo in their endeavour of creating one of the largest student lending institutions of India.”