Will impact and serve more than 2.7million students from existing 0.9 million students in 1800+ education institution partners
Lead investor MS Fincap-Jaipur based NBFC, followed by others
A total of 4 mn USD received in the two years by Financepeer
New Delhi, Sept 29, 2020: Financepeer- a market leader, is an education fintech company focused on financing education fees and providing other education technologies. It has positively continued its fundraising journey, with closure of a fresh round raising USD 3million. Key investors in the current round were MS Fincap – Jaipur based NBFC, Danube- UAE’s largest conglomerate, Aar Em Ventures, Angelbay Holdings, JITO Angel Network, HEM Angels.
In all, Financepeer has raised USD 4 million in the last two years. This investment will be used to bolster Education Institution partnerships from existing 1800 schools to 5000 schools in the next 12months & to enhance edu-fintech product offerings, accelerate product development and enable organic growth in India.
Commenting on this development, CEO of Financepeer, Mr Rohit Gajbhiye said, “Raising funds during the Covid-19 pandemic depicts our strength, positivity and our commitment. During this phase, we are glad we created a positive impact in the lives of thousands of parents who were affected financially. We are extremely glad and proud to be associated with such key strategic investors, who have strengthened our growth. With these fresh funding, we expect our market leading revenues to see sustainable high growth.”
Mr. Shridhar Modi, Director MS Fincap, said, “We are delighted to partner with Financepeer. We share a similar mission of empowering parents to pay the education fees with utmost convenience. The hockey-stick growth story of Financepeer is phenomenal and is maturing in every region of the country. The visionary team at Financepeer is not only ensuring quality education but also addressing the nation-wide issue of education loans.” MS Fincap is a new venture of a 35-year-old family business of financial services that is tapping the financial demand of rural & semi-urban population of Rajasthan, backed by new-age credit analysis tools. With a genuine belief that partnership endeavours in today’s fin-ed-tech world, MS Fincap and Financepeer see a great synergy of growth in this association.
Financepeer is founded by IIT, IIM entrepreneurs – Rohit Gajbhiye, Sunit Gajbhiye, Naveesh Reddy and Debi Prasad Baral. Financepeer provides education fee loans at zero percent interest rates and the applicant gets insurance protection for child’s lifetime education fees in case any adverse incidents.
With an aim of ensuring quality education accessible for the masses, Financepeer bridges the gap between parents and education institutes and is creating a positive impact for the lakhs of students and parents. In all, almost 9,00,000 students across India have been impacted with Financepeer for education loan and more than 1800 schools across India have collaborated with Financepeer to provide the facilities to the parents.
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About Financepeer
Financepeer is a Forbes acclaimed and Google incubated Edu Fintech company for-profit Impact Creation venture. Established in 2017, the Company is headquartered in Mumbai has its presence in more than 50 cites of India and has collaborated with 1800 schools across boards. Till now, Financepeer has provided access to education to more than 9 lakh plus students.
