Invest4Edu, a Mumbai-based ed-fintech startup that offers education planning, savings and investment services, has raised $3 million in seed funding funding round led by leading family offices.
The startup plans to use the funds raised to accelerate its growth and deepen its impact in early education planning and financial support.
Earlier this year, Invest4Edu added Hemika Tanwar and Chintan Kotak as co-founders.
Strengthen sales and marketing programs
Invest4Eduwhich operates in the B2C and B2B2C segments, is also working on strengthening its sales and marketing, technology and awareness programs.
The startup aims to leverage these resources to significantly increase its reach, improve its services and increase customer satisfaction.
“This is an important milestone in our journey to make quality education accessible to all. The proceeds will be used to accelerate growth with a focus on sales and marketing, technology and product development,” said Peeyush Agrawal, CEO, Invest4Edu.
Aiming to capture a large portion of the educational planning market
The average expenditure on higher education in India is $73 billion, while overseas education is $50 billion. Education in India is growing at a CAGR of 10%, while the overseas education market is expected to grow at a CAGR of 12-14%.
Invest4Edu said its addressable market size is over $2.5 billion and aims to capture a significant share of the education planning market, targeting over 1.5 million users and empowering one million families within the next two years.
The startup’s revenue goals include building a mutual fund with $250 million in assets under management and a monthly SIP book of $6 million.
Who are the founders?
Founded in 2021 by a team of financial industry veterans Peeyush Agrawal, Rozy Efzal, Hemika Tanwar, Chintan Kotak, Tushar Bopche, Aditya Agarwala and Manoj Sharma, Invest4Edu empowers parents and students to discover and plan their educational goals using intelligent AI-powered tools.
The startup’s product and service offerings include: Personalized Education Journey, Edu AI – a chatbot that answers all education-related questions, Edu Abacus – a college cost calculator, career selector, career library, study abroad services, affordability calculator, and more.
Financially, it offers portfolio management services, mutual fund and stock investment services, market research services and education loans.
Invest4Edu’s presence on the market
Over the past year, Invest4Edu claims to have created over 50,000 educational paths for users on its platform and built a network of over 100 business partners in financial services, skill-building programs, expert collaborations and institutional offerings.
Through its youth financial education program, the startup has trained over 8,000 youth in financial education, enabling them to generate employment opportunities.