Google-incubated edu-fintech begin up Financepeer has raised $ 31 million in its Series B funding, led by QED Investors from Virginia, USA and Mumbai-based Aavishkaar Capital. Financepeer plans to make the most of the recent funds to reinforce its expertise platform and choices, increase and strengthen its education-institution partnerships, whereas deepen its attain in rural areas to allow extra college students, particularly the woman college students in order that they will get easy accessibility to high quality training.
This spherical additionally noticed participation from US-based edu-tech investor Ardent Ventures, DMI Sparkle Fund, DMI, 9Unicorn, LC Nueva AIF and Maxar VC.
“Financepeer has processed more than $100 million of fees on its platform and helped hundreds of thousands of students get quality education. In line with the company’s vision for the next phase of growth, it is very important to join hands with sector-specific and the right set of leaders, partners and investors. Our mission is to bring revolution in the education space through neo banking and at the same time create an impact at the bottom of the pyramid, via increasing access to quality education. This mission is further strengthened and eased off with relevant industry stalwarts QED, Aavishkaar and Ardent Ventures joining us,” Rohit Gajbhiye, CEO, Financepeer, stated.
The firm claims to witnessed 10x development within the final yr. It has partnered with greater than 10,000 instructional establishments pan India, delivering inexpensive price financing options, edu-tech content material, and price cost options. Financepeer caters to each offline and on-line training suppliers together with pre-schools, Okay-12, faculties, universities, offline take a look at prep, ed-tech, and skilling.
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Source: www.financialexpress.com”