EduFund Secures $6M Series A Funding to Expand Education Financing in India
EduFund, a pioneering education financing platform, has secured $6 million in Series A funding, bringing its total raise to $12 million. The startup aims to tackle rising education costs for middle-class Indian families, serving over 250,000 families since its inception in 2020.
Founded by Eela Dubey and Arindam Sengupta, EduFund provides a comprehensive roadmap for parents to fund their children's education. The platform offers goal-based investment portfolios, affordable education loans, visa and forex support, and expert counselling. It has formed partnerships with over 40 asset-management firms and 15 lending institutions, as well as consumer collaborations with Hamleys, Prisms, and DTDC.
The funding round was led by Cercano Management and MassMutual Ventures, with Doug Russell, Managing Partner at MassMutual Ventures, expressing confidence in EduFund's innovative approach. Danika Ariadna, Vice President at Cercano Management, shared excitement about EduFund's journey to become the end-to-end education financing partner for Indian families. With this funding, EduFund plans to expand its loan offerings, focusing on the underserved undergraduate segment, and reach families in Tier-2 and Tier-3 cities.
EduFund's mission to combat educational poverty has resonated with investors and partners alike. With its latest funding round, the platform is well-positioned to continue its growth and make a significant impact on education financing in India.
