Prashanth Ranganathan, the founder of PaySense and previous CEO of PayU Credit founded edu-wealth startup ‘Zinc’ has attracted $25.5 million in Seed Funding.

Quona Capital, EDBI, Global Ventures, and Saison Capital were among the investors participated in the funding round, which was led by Nexus Venture Partners.

To help families save and invest for their children's international education, the Singapore-based company intends to use the money to develop new products, broaden its product offerings, and get important financial licenses.

Ranganathan left Prosus-owned PayU in the year 2023, and according to an August 2023 ET story, he was negotiating with investors to obtain money for his new business. In January 2020, PayU purchased his consumer loan business PaySense for $185 million.

Ranganathan left Prosus-owned PayU in 2023, and according to an August 2023 ET story, he was negotiating with investors to obtain money for his new business. In January 2020, PayU purchased his consumer loan business PaySense for $185 million.

Speaking to this key funding round, Ranganathan, the founder and CEO of Zinc states, “I left PayU and took a little bit of time to understand the space around foreign education. I realized that there is a huge latent demand among people who are looking to send their kids overseas for education, not for any other reason but (because) they find it very competitive in the domestic market. I noticed that most parents have the aspiration of wanting to send their kids overseas and having them educated on the global stage”.

Similarly, Anup Gupta, Managing Director, Nexus Venture Partners says, “India is emerging as a key geography for students pursuing global education opportunities. Nexus is delighted to partner again with Prashanth and Team Zinc in their vision to support parents and students in realising their global education goals in a planned and transparent manner with a best-in-class combination of education advisory and financial services platform”.