FinTech EduFund raises INR 25 mn in pre-seed round from ViewTrade
By Edil Corneille
Ahmedabad-based FinTech startup EduFund raised INR 25 million as part of its pre-seed investment round from ViewTrade, a US-based holding corporation, as mentioned in media reports. ViewTrade was the main investor along with other angel investors from a private syndicate through Angel List.
EduFund provides parents with the means to build an education fund for the child higher studies. The company plans on using the raised funds for product expansion by incorporating more policies to fulfil the financial and educational goals of students.
According to media reports, 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,” said James StClair, President of VTS, according to media reports.
To keep with the trends of the FinTech industry, the company is aggressively working on its growth trajectory. With the newly acquired funds, the company aims to invest in market acquisition and impactful marketing campaigns which have a greater outreach to parents and students interested in overseas education.
Regulated by SEBI, EduFund is a Registered Investment Advisor in India. The company is said to ensure 100% privacy and confidentiality when it comes to storing personal information of users.