Financepeer, a zero cost EMI based school fee financing platform, has raised $3 million in a funding round led by MS Fincap. Danube, Aar Em Ventures, Angelbay Holdings, JITO Angel Network, and HEM Angels also participated.
It would utilize the fresh proceeds to bolster its partnerships with educational institutions and accelerate product development.
The three-year-old Financepeer provides education fee loans at zero percent interest rates and the applicant gets insurance protection for a child’s lifetime education fees in case of any adverse incidents.
Currently, it has over 9 lakh students in 40 Indian cities.