The full-stack education planning and funding platform EduFund has raised $6 million (about Rs 50 crore) in a Series A round led by MassMutual Ventures and Cercano Management, bringing its total funding to $12 million.
The money raised will be utilized to increase loan availability for undergraduate students, launch an AI-powered personalized planning engine, and bolster the company’s presence in tier-II and tier-III cities, where educational expenses are outpacing income.
Established in 2020, the platform provides Indian families with a comprehensive set of tools to finance both domestic and foreign education, including education loans, investment plans, forex and visa services, and on-demand professional counseling.
More than 40 asset management companies and more than 15 lending institutions, including public and private sector banks, NBFCs, and international lenders, collaborate with EduFund to support more than 250,000 families. Additionally, it works with consumer brands like DTDC, Prisms (school ERP), and Hamleys.
Since 2024, edtech startups have raised $1.2 billion, according to a recent Entrackr report. It’s interesting to note that $424 million, or more than 35%, of this funding has gone to startups that specialize in offering student loans.
