EduFund, a leading education-focused fintech startup based in India, has successfully raised $6 million (INR 51.8 crore) in its Series A funding round. The investment was led by Cercano Management, with strong participation from existing investor MassMutual Ventures. This milestone funding round marks a significant step forward in EduFund’s mission to revolutionize how Indian families plan and finance their children’s education.
Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund offers a comprehensive, full-stack platform that enables Indian parents to plan, save, and invest for their children’s educational future. The platform combines technology with personalized financial advice to help families make informed decisions regarding their education savings and loans.
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With the newly secured capital, EduFund aims to further enhance its product offerings by launching a customized planning engine. This new engine will be designed to cater specifically to users’ financial goals, enabling tailored savings plans and loan recommendations that align with individual family needs. The company also plans to broaden its loan offerings, making education financing more accessible and affordable across the country.
One of the key objectives of this funding round is to expand EduFund’s presence in India’s underserved tier II and tier III cities. These regions often lack access to quality financial planning tools and education funding resources. By increasing outreach and building localized solutions, EduFund hopes to bridge the gap and provide more families with the opportunity to secure a better future for their children.
Currently, EduFund claims to serve over 250,000 families and has built an impressive partner network of more than 40 asset management companies and over 15 lending institutions. This extensive ecosystem allows users to access a wide range of investment products and loan options, all integrated within a single digital platform.
EduFund’s user-centric approach sets it apart in the crowded fintech landscape. Unlike traditional financial services, the platform focuses exclusively on education-related financial planning, from early-stage savings to higher education loans. This niche focus, combined with its growing technological capabilities, makes EduFund a unique and valuable player in the Indian fintech ecosystem.
The latest funding comes at a time when the cost of education is rising rapidly, both in India and abroad. With more Indian families seeking global education opportunities for their children, the demand for structured financial planning is at an all-time high. EduFund is poised to meet this growing demand through innovative tools and localized support.
In summary, EduFund’s $6 million Series A round not only validates its business model but also sets the stage for aggressive growth and deeper market penetration. With plans to launch a smart financial planning engine, expand its loan products, and reach families in smaller cities, EduFund continues to strengthen its position as a trusted partner for education-focused financial solutions in India.
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