LEO1, an edu-fintech company (Formerly known as Financepeer), has announced a strategic investment from the Indian cricket captain, Rohit Sharma. This represents a significant step forward for LEO1 in its goal to resolve long pending cashflow issue in the educational institutes along with providing innovative solutions for students across India.
Over the last three years, the company has raised $35 million (About INR 291 crores) through two investment rounds, displaying its growth and investor trust. Investment is directed towards innovation, technology and expansion.
‘QED Investors,’ ‘Aavishkaar Capital,’ ‘Ardent Investors LLC,’ ‘9 Unicorn,’ ‘DMI Finance,’ ‘MS Fincap,’ ‘Angel Bay,’ ‘Ratna Fin Capital,’ ‘Neweva Capital,’ ‘AAR EM Ventures,’ and several other investors have also contributed funds to LEO1.
Sharma stated, “I am thrilled to support LEO1 in its mission to revolutionize learning and make quality education accessible to everyone. Their approach, unwavering commitment, and entrepreneurial spirit are truly inspiring as they work to positively impact the lives of aspiring students and their parents. This partnership presents an incredible opportunity for me to back initiatives that can make a significant difference for an entire generation.”
Rohit Gajbhiye, chief executive officer and founder of LEO1, remarked, “We aim to instill a crucial discipline within the education sector. Irregular cash flow often leads to excessive efforts focused solely on fee recovery over other important developments. This is an ancient problem for institutes across the country. Parallelly, given that education constitutes a significant portion—15-20%—of household earnings, parents and students lack sufficient motivation to make timely payments. LEO1 addresses these challenges through our ‘Financial SAAS’ model that motivates responsible financial behaviour in them.”
He continued, “Rohit Sharma’s endorsement has infused our teams with tremendous enthusiasm to deliver outstanding work. We draw inspiration from many of Rohit Sharma’s qualities. With his support as our brand ambassador and now as a valued investor, I am confident that we will become even more efficient and motivated. I foresee a promising future for LEO1. I express gratitude to all our investors and extend a warm welcome to Rohit into our community.”
LEO1’s recently introduced ‘Financial SAAS’ product offers a comprehensive solution for financial transactions within the education sector. It includes LEO1 payment card that serves as both a Smart card and a LEO1 Smart ID card within campus premises. As per the company, the card enables effortless transactions, allowing for tap-and-pay convenience for institute fees, retail purchases, online transactions, and ATM withdrawals, whether on or off-campus.
Immediate education loans are available and the platform also incentivises timely fee payments through a reward mechanism. LEO1 has also joined forces with 31+ major institutions nationwide to offer its ‘Financial SAAS’ platform.
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