11th February 2021: EduFund one of India’s fastest-growing higher education planning apps has recently raised INR 2.5 Cr. as part it’s pre-seed investment round. ViewTrade Holding Corp – a US-based holding corporation which owns a full-service brokerage firm and a technology company was the key investor followed by other angel investors from a private syndicate through Angel List.
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. The app also helps to reduce the complexity of studying abroad by offering counselling services for the college admissions process. The company intends to use the funds for product expansion by integrating more plans to fulfil the financial and education goals of parents and students.
Delighted with the funding round, 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 Cr. is a good validation for us and motivates us to focus on customer feedback, product development and client acquisition. We are thankful to our Angel's and our institutional partner VTS who showed faith in us pre-product."
"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", says James StClair, President of VTS.
EduFund acts as a one-stop solution for parents to secure their child’s future and reduce the financial burden of quality higher education. The platform deliberately addresses the huge gap between being academically and financially ready to help the students obtain dream education.
To dominate the trends in the fintech industry, the company is aggressively working on its growth trajectory and also planning to use the funds for market acquisition. It is looking to focus on impactful marketing campaigns with greater outreach to acquire more parents planning for overseas education for their children.
EduFund’s state-of-the-art app features a highly secured dashboard that connects the parents with expert education counsellors based across the globe to seek consultation for the best university, courses and other important details.
It has also entered into multiple counsellor partnerships including – OnCourse Global, Zsoldos Coaching, Reva Education Consultant, and Overseas Education Consultancy. EduFund is a Registered Investment Advisor regulated by SEBI. Furthermore, it ensures 100% privacy and confidentiality to keep the personal information of users safe.