Lorien Finance receives over $75 million in loan requests
Lorien Finance, a first-of-its-kind cross-border fintech platform, is making student loans accessible and affordable by allowing study abroad applicants to get a loan and open a US bank account directly from India in just a few minutes. clicks.
“Financial barriers prevent millions of Indian students from considering an education in the United States. And students who get loans from Indian banks end up paying high interest rates and fees, which impacts their ability to save money and access credit for other important life needs. life,” said Nikhil Mudgal, Founder and CEO of Lorien Finance.
With 14 years of investment banking and lending experience in the US and European markets at global banks such as Goldman Sachs, Jefferies, and PNC, Nikhil started Lorien Finance after identifying student struggles immigrants to obtain and repay a student loan for study abroad.
Lorien’s core team brings over 40 years of experience in the global financial services industry as operators, advisors, lenders, risk managers and entrepreneurs.
While Vishal Mundhra, co-founder and CTO, Lorien Finance leads product development at Lorien, Gaurav Arya leads sales in India and brings over 14 years of experience in business development, strategy and operations in the fintech space. Indian.
Annual expenditure by Indian students studying abroad is expected to reach $100 billion by 2025 and the number of Indian students studying abroad is expected to reach 2 million by 2025. However, affording an education to United States can be very daunting for a middle class Indian family. . Therefore, most of the students opt for an education loan to fulfill their dream of studying in a foreign university or college.
Lorien Finance offers student loans to Indian students at interest rates as low as 8.5%, so they don’t have to bear the burden of high monthly payments. Moreover, it does not require any collateral and does not impose forex conversion fees, prepayment penalties or hidden fees. Applicants can avoid stacks of paperwork and get their loans sanctioned within three days, thanks to their fast online application process.
“Our strong relationships with U.S. banks and private credit funds allow us to source capital on favorable terms, which enables us to offer our customers lower interest rates on student loans,” said Nikhil.
Based in New York and New Delhi, Lorien Finance stands out among local banks and other lenders in the market because of its exceptional customer service which makes obtaining a student loan extremely quick and hassle-free.
The platform received over $75 million in loan applications within weeks of its launch and was recently awarded the 2022 Global Icon Award for “Best Cross-Border Fintech Platform” by the Global Association of Small and Medium-Sized Companies. enterprises (WASME).
The company is backed by leading investors including Venture Catalysts, TSM Ventures, Kunal Shah (CRED), Aman Gupta & Sameer Mehta (boAt Lifestyle), Brijesh Agrawal (IndiaMart), Varun Alagh (CEO, Mamaearth), Arjun Vaidya Dhruv Dhanraj Bahl (COO, BharatPe), Shiprocket Founders, Classplus founders, Yaser Moustafa (CEO, NBK Capital – Kuwait) and John Werner (Ex-EVP, PNC Bank).