Financepeer is a Mumbai based startup that raised $3 Mn led by a Jaipur-based NBFC, MS Fincap. The startup is a Google-incubated education fintech firm.
It said that it would use the funds to bolster its partnership with educational institutions from the existing 1,800 to 5000 schools in the next 12 months.
“Raising funds during the COVID-19 pandemic depicts our strength, positivity, and commitment. During this phase, we are glad we created a positive impact in the lives of thousands of parents who were affected financially. With this fresh funding, we expect our market-leading revenues to see sustainable high growth,” said Rohit Gajbhiye, CEO of Financepeer.
“The hockey-stick growth story of Financepeer is phenomenal and is maturing in every region of the country. The visionary team at Financepeer is not only ensuring quality education but also addressing the nation-wide issue of education loans,” said Shridhar Modi, Director MS Fincap.
The startup was founded by Rohit Gajbhiye, Naveesh Reddy, and Debi Prasad Baral, Financepeer focuses on financing education fees and providing other educational technologies.
The startup claims to have impacted almost nine lakh students across India through education loans while more than 1,800 schools have collaborated with the startup to provide these facilities to the parents. It has a presence in more than 50 cities in India.