EduFund, India’s pioneering full-stack education planning and financing platform, has secured $6 million (₹50 crore) in its Series A funding round. This latest investment was led by Cercano Management and existing backer MassMutual Ventures, and brings the company’s total raised capital to $12 million. EduFund’s expansion is strategically focused on bridging the education-financing gap faced by families outside India’s major metropolitan centers by delivering smart, accessible, and AI-powered tools directly to Tier-2 and Tier-3 cities.
Co-founded by Eela Dubey and Arindam Sengupta in 2020, EduFund has emerged as a holistic solution for Indian parents navigating the rising costs of education. The platform’s suite includes goal-based investment portfolios, competitive education loans, visa and foreign exchange support, and instant access to expert counselling, all seamlessly integrated in a user-friendly digital environment. Over the past few years, EduFund has built the confidence of more than 250,000 families across the nation and cemented partnerships with over 40 asset management companies and 15 lenders, including prominent public and private banks, NBFCs, and leading international education finance providers.
The recent infusion of funds will empower EduFund to target underserved segments, particularly in the undergraduate student loan space, and make its products even more inclusive for families in smaller cities. Tuition fees in Tier-2 and Tier-3 cities are witnessing annual growth rates of 10 to 12 percent, outpacing household income and putting immense pressure on middle-income parents. EduFund aims to address this widening gap by extending its support network, launching more versatile loan products, and leveraging its innovative AI-driven planning tools.
Senior partners at the investing firms have expressed strong faith in EduFund’s mission. Danika Ariadna, Vice President at Cercano Management, highlighted the platform’s crucial role as an end-to-end education financing partner at a time when higher education expenses are escalating worldwide. MassMutual Ventures’ Doug Russell also reiterated their commitment to the platform, noting that EduFund has quickly distinguished itself by empowering Indian parents to plan and save strategically for their children’s academic futures.
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With the growing demand for accessible and intelligent education planning, EduFund’s latest milestone marks a significant step forward for the fintech sector in India and affirms the platform’s vision to become the definitive destination for education financing across the country’s diverse socio-economic landscape.
