Anantapur trio’s financial startup hits the sweet spot

It addresses problem of unsecured loans for basic education

Naveen Madgula

Three management post-graduates from Sri Krishnadevaraya University with diverse undergraduate backgrounds have come together and set up a startup to address a specific need of every common man, unsecured loans for basic education and upskilling for brighter future.

With a tagline ‘KG to 12’ the Anantapur troika has identified the high cost of education from kindergarten level to 12th Standard, which no financial institution comes forward to support with any unsecured lending and majority of those in the tier-II and tier-III cities from the middle and lower middle income groups find it difficult to fulfil their dreams.

“This is where we as friends from the same university met once two years ago started discussing our future in our own professions and got this idea of turning a ‘catalyst’, by launching TachyLoans, in promoting quality education and specialised skilling courses through affordable loans,” Co-Founder and Chief Operating Officer Naveen Madgula told

The Hindu .

A career banker, Naveen’s last assignment was with IDFC as Sr. Asst. Director (Corporate Banking). He was joined by Praveen Krishnan, who works in banking IT Solutions, and Brahma Mahesh, the third co-founder and the current CEO of the TachyLoans, who worked in ICICI’s sales wing.

These people in the first full year of operations reached a business turnover of ₹8.5 crore by the end of the 2018-19 financial year. These 1994-96 SKU alumni do not lend money on their own, but process requests for unsecured loans for education and find a reputed educational institution and a reliable/willing lender (a bank or an NBFC).

How it works

Mr. Naveen says they created a website through which people apply for a loan with all regular formalities of uploading bank statements, salary slips and completing their KYC. The TachyLoans approaches the desired institution offering professional skilling or traditional educational institution offer them a potential needy learner, who cannot pay the fee at one go.

They get course fee sanctioned from one of the three NBFCs or a bank and money is paid upfront to the institution and TachyLoans stands guarantee for repayment from the loanee.

The troika is currently operating out of Bengaluru and Chennai and expanding operations to some districts in Andhra Pradesh too targeting 100 loan approvals a month so that they get 2% of the loan amount as their professional fee.