Online learning startup ixamBee said it has secured an undisclosed amount in debt round from Caspian Debt, the lending arm of impact investment firm Caspian Impact Investment Adviser.
The Noida-based platform will use the fresh funds to roll out additional learning courses as well as invest in marketing and technology to drive growth.
ixamBee was founded by Chandraprakash Joshi, Arunima Sinha and Sandeep Singh.
It is an online learning platform that offers aspirants to prepare for jobs-related competitive exams.
The platform claims to provide free mock tests for over 50 competitive exams for jobs across public and private sectors including banks, regulatory bodies, among others.
“We have reached out to over 10 million students, most of whom hail from tier-2 and tier-3 cities, and we feel humbled to see the students on our platform succeed in various exams.
We are grateful to the Caspian team for their confidence in us to build the biggest platform for jobs for students of Bharat. We will scale up faster with this funding from an eminent investor," said Joshi.
Last year, ixamBee raised an undisclosed amount in funding led by Mumbai Angels.
Caspian Debt is a digital corporate lending company that offers custom debt solutions to professionally managed small or mid-market companies and start-ups founded by first-generation entrepreneurs.
Over the last eight years, Caspian Debt claimed to have disbursed debt over Rs 2,000 crore to 180 startups, social enterprises and mid-market companies.
Recently, Caspian Debt backed green energy technology firm, Proklean Technologies Pvt. Ltd and refurbished electronics startup Qarmatek.
Last year, Caspian Debt partnered with Chennai-based social enterprises incubator Villgro to provide debt solutions to impact-focused startups.
In May 2020, Caspian Debt raised $20 million (Rs 151.14 crore at current exchange rates) as long-term debt from the US International Development Finance Corporation (USIDFC), an arm of the US government that provides finance to impact-oriented projects.