In a pivotal moment for India’s rapidly evolving ed-fintech sector, EduFund, a full-stack education-planning and financing platform, has successfully raised $6 million (approximately ₹50 crore) in a Series A funding round. Leading the investment were two marquee names — Cercano Management and MassMutual Ventures. With this fresh capital infusion, EduFund’s total funding now stands at $12 million, a testament to its growing reputation and impact within the Indian education ecosystem.
Founded in 2020 by dynamic entrepreneurs Eela Dubey and Arindam Sengupta, EduFund has emerged as a beacon of hope for middle-class Indian families struggling to keep up with the escalating costs of education — both within India and internationally. Unlike traditional loan providers or investment firms, EduFund offers a holistic, AI-driven, and personalized approach to education planning. Its platform integrates goal-based investing, education loans, visa and forex support, and on-demand counselling into one seamless digital experience.
As of 2024, the platform has empowered more than 250,000 families and has created a formidable network of over 40 asset management companies and more than 15 lending institutions, including private and public sector banks, non-banking financial companies (NBFCs), and international loan providers.
Understanding the Challenge: Why EduFund Matters
The average Indian household spends nearly 30% of its annual income on education — a statistic that underscores the urgency of systematic financial planning. Education costs are not only increasing domestically but are also skyrocketing globally. A degree from a U.S., U.K., or Canadian university can cost tens of lakhs of rupees, not including living expenses and forex volatility. This reality has made financial planning more than a luxury — it’s now a necessity.
Traditionally, Indian families have relied on a combination of savings, fixed deposits, gold, or ad hoc educational loans to fund their children’s education. However, these methods often lack transparency, personalization, or a long-term vision. EduFund entered the market to bridge this glaring gap by offering a tech-enabled, end-to-end planning experience tailored to each family’s needs.
By addressing not just the cost but the entire journey of funding education, EduFund enables families to prepare well in advance, avoid last-minute debt traps, and access better academic opportunities for their children.
EduFund’s All-In-One Platform: A Game Changer
EduFund didn’t build a conventional product — it built a comprehensive ecosystem. The platform gives users access to:
- Goal-Based Investment Portfolios: Tailored to long-term educational goals, these portfolios leverage mutual funds, ETFs, and other financial instruments to grow wealth over time.
- Education Loans: The startup partners with over 15 lending institutions to offer competitive loan options for both domestic and international education.
- Visa and Forex Support: International education involves significant paperwork and currency exchange management. EduFund simplifies this process, offering families real-time assistance and support.
- On-Demand Expert Counselling: From career planning to choosing the right university or navigating the visa maze, families can consult certified experts at every step.
This unified model eliminates the need to juggle multiple service providers. It gives parents one trustworthy, streamlined resource for every education-finance requirement.
Serving the Indian Middle Class at Scale
One of EduFund’s most significant achievements lies in its wide adoption. Over 250,000 families have already used the platform, validating its need and utility. The startup has shown exceptional growth not only in India’s urban hubs but also in Tier-2 and Tier-3 cities — areas where educational aspirations are high, but access to structured financial planning is limited.
Parents in smaller towns often face a double burden — limited access to reliable financial advice and fewer banking or NBFC options that understand the nuances of education funding. EduFund’s platform breaks down these barriers by digitizing the experience and offering vernacular language support, simple onboarding processes, and AI-powered tools that adapt to local income levels and schooling goals.
Its partnerships with 40+ asset management firms ensure that families receive best-in-class investment options regardless of where they live. Similarly, collaborations with 15+ lenders bring a range of financing options directly to their fingertips.
Strategic Partnerships: A Growing Ecosystem
EduFund’s success also hinges on its strategic collaborations with both financial and consumer-facing brands. It has formed critical alliances with educational institutions, asset managers, retail chains, and even logistics companies.
For instance:
- Hamleys: The toy retail giant helps EduFund connect with families early in their educational journey, turning financial planning into a conversation that begins in childhood.
- Prisms: As a leading school ERP provider, Prisms allows EduFund to integrate its services into school systems, engaging parents directly within their child’s academic environment.
- DTDC: One of India’s largest logistics networks, DTDC provides EduFund with enhanced reach and support capabilities, particularly useful for document delivery and loan processing in remote areas.
These collaborations aren’t just about marketing — they represent a holistic vision where education planning becomes an integrated part of everyday life.
Series A: A Testament to Vision and Execution
EduFund’s $6 million Series A funding will serve as the rocket fuel for its next phase of growth. CEO and co-founder Eela Dubey stated, “Education is a consumer staple in India, and parents already spend about 30 percent of their earnings on it. With costs rising at home and abroad, the middle-class Indian parent faces a major challenge. Backed by a community of 250,000 families, we are more committed than ever to solving this problem, and this Series A fundraise is a testament to that commitment.”
The company will use the funds to roll out a personalized planning engine powered by artificial intelligence. This tool will analyze each family’s income, expenses, education goals, and timeframes to build a custom roadmap that blends savings and loan strategies. No two families are alike — and EduFund plans to treat them that way.
It will also focus heavily on:
- Expanding Undergraduate Loan Offerings: Most financial products today focus on postgraduate degrees abroad. EduFund will pivot toward undergraduate programs, ensuring that families planning earlier receive equal support.
- Deepening Tier-2 and Tier-3 Outreach: The startup will invest in marketing, localized user experiences, and advisory support in smaller cities, where demand is high but awareness remains low.
What Investors Are Saying
EduFund’s mission and execution have resonated strongly with its investors. Danika Ariadna, Vice President of Cercano Management, highlighted the urgency of the platform’s mission. “We are excited to join EduFund in its journey to become the end-to-end education-financing and preparation partner for Indian families. Higher education is getting costlier and less accessible worldwide, so parents need a platform that helps them start planning early,” she said.
Doug Russell, Managing Partner and Head of MassMutual Ventures, reinforced that sentiment: “Our follow-on investment underscores our confidence in EduFund’s innovative approach. In just two years, the platform has empowered families to plan and save for their children’s future, and we are pleased to support its next phase of growth.”
These comments illustrate the high degree of trust EduFund has built among institutional investors. Unlike other fintech players that may focus solely on rapid expansion, EduFund combines innovation with real-world utility, offering solutions to a universally felt pain point.
A Glimpse into the Future
EduFund’s journey is only just beginning. The startup plans to enhance its product suite even further, potentially including features like:
- Scholarship Discovery Engines: Tools to help families identify grants and merit-based scholarships.
- Real-Time ROI Calculators: AI-powered tools that predict the potential return on investment for various degrees and universities.
- Custom Alerts: Notifications when tuition deadlines or exchange rate thresholds are near, helping families act strategically.
- Gamified Saving Goals for Children: Interactive tools that involve children in the savings process, making financial literacy a shared family experience.
By building these capabilities into its platform, EduFund will solidify its place not just as a tool, but as a lifelong companion in a family’s educational journey.
The Broader Implications for Ed-Tech and FinTech in India
EduFund’s rise also symbolizes a broader shift in India’s ed-tech and fintech landscape. Until recently, most innovation focused on test prep, online learning, or digital classrooms. Very few startups tackled the financial side of education.
EduFund has proven that this sector holds massive potential. According to Redseer, India’s education financing market could grow to $40 billion by 2030, with more families opting for structured financial solutions over informal savings. EduFund stands well-positioned to ride this wave and even shape it.
Conclusion: EduFund as a Catalyst for Change
EduFund’s Series A round marks more than a funding milestone — it signals a paradigm shift in how Indian families approach the cost of education. By combining fintech, edtech, and a deep understanding of local challenges, EduFund has built a unique platform that offers real value to families navigating the complex journey of educational planning.
With a visionary team, a robust partner network, and an unwavering commitment to its mission, EduFund is not just solving a problem — it is redefining an industry.
As it continues to scale across India and introduce even more personalized and innovative tools, EduFund is poised to become the go-to platform for education financing — not just for the elite, but for every Indian household that dreams big for its children.
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