[Funding alert] Fintech startup EduFund raises 2.5 Cr pre-Seed round led by View Trade Holding Corp
Fintech platform helping with higher education planning, EduFund, has recently raised Rs 2.5 crore as part of a pre-seed investment round led by View Trade Holding Corp.
According to an official statement, the startup intends to use the funds for product expansion by integrating more plans to fulfil the financial and education goals of parents and students.
Incepted in 2020, EduFund works as a holistic planning tool for parents looking to build an education fund for their child’s higher education. The app’s college calculator provides complete transparency on the true cost of university by looking at factors such as inflation, currency, and accommodation expense.
It acts as a one-stop solution for parents to secure their child’s future and reduce the financial burden of quality higher education.
The app also helps to reduce the complexity of studying abroad by offering counselling services for the college admissions process.
It has also entered into multiple counsellor partnerships including – OnCourse Global, Zsoldos Coaching, Reva Education Consultant, and Overseas Education Consultancy.
Speaking about the new development, Eela Dubey, Co-founder and CEO of EduFund said,
"What we are trying to build at Edufund is a unified platform that best suits one’s academic aspirations. Looking back, it was a challenge to put our heads down and just keep building a product so granular for the past 8 months. As a team, this capital raise of 2.5 crore is a good validation for us and motivates us to focus on customer feedback, product development and client acquisition. We are thankful to our angels and our institutional partner VTS who showed faith in us pre-product."
Commenting on the investment, James StClair, President of VTS added,
"We are excited to be a part of this forward-looking company, driven by a passionate team of innovators. With an emphasis on education, their ultimate success is inevitable".
Edited by Anju Narayanan