Team Startupcity

·  EduFund raises  Rs 50 Cr in Series A led by Cercano Management and MassMutual Ventures, taking total funding to $12M.

·  Served over 2.5 lakh families with a full-stack platform offering investment planning, loans, visa & forex support.

·  Focus on AI-powered personalization and Tier 2 & 3 expansion to support middle-income Indian families with rising education costs.

EduFund, a holistic education planning and funding startup, raised  Rs 50 crore ((store value of around $6 million) in a Series A round from Cercano Management and MassMutual Ventures. This is the company's total funding to date, which stands at $12 million since its launch.

Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund provides Indian parents an end-to-end digital platform that streamlines the experience of funding education. The platform offers customized investment portfolios, low-cost education loans, visa and forex, and expert counselling  all aimed at enabling families to plan the educational future of their children in a strategic manner.

So far, EduFund has assisted more than 2.5 lakh families and partnered with over 40 asset management companies and 15 lending institutions, such as banks, NBFCs, and foreign lenders. It has also partnered with consumer companies like Hamleys, DTDC, and school ERP company Prisms for wider reach.

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"Education remains a top household value in India, where families generally spend about 30% of their income on it. As fees both at home and abroad skyrocket, middle-class Indian parents are under mounting pressure. With the help of our 250,000-strong community, this funding round reinforces our commitment to relieve that burden," stated Eela Dubey, Co-founder and CEO of EduFund.

The new capital will drive the development of EduFund's AI-powered advisory capabilities, such as a new personalized planning engine that will tailor savings and loan solutions to every family. It will also enable the company to expand its loan book, especially focusing on the underpenetrated undergraduate segment.

Another prime area of focus for EduFund is to grow penetration in Tier 2 and Tier 3 cities, where annual tuition costs are increasing at 10–12% and forex-based expenses remain a burden on household expenditure. Through the provision of structured, technology-driven financial solutions, EduFund hopes to take affordable education finance into India's expanding middle class.

Danika Ariadna, Cercano Management Vice President, had this to say, "We are excited to join EduFund on its mission to be India's go-to platform for education financing. As global education expenses increase, families require a partner that espouses early planning and financial preparedness."

Doug Russell, Managing Partner at MassMutual Ventures, said, "This follow-on investment is testament to our deep conviction in EduFund's vision. Within two years, they built a strong, intuitive platform enabling families to plan for their children's futures  and we're excited to be part of their next growth journey.