EduFund Raises $3.5 Million In Pre-Series A FundingThe fund raised will be utilized to accelerate the growth, create new solutions and invest in technology

EduFund, an India-based edu-fintech company, has raised $3.5 million in pre-Series A funding round led by global venture capital firm MassMutual Ventures (MMV). The round also saw participation from prominent investors DSP Investment Managers, Anchorage Capital Partners, and Kunal Shah. The fund raised will be utilized to accelerate the growth, create new solutions and invest in technology.

"Our goal at EduFund has always been to help parents start saving early and to provide solutions that will financially enable the aspirations they have for their children. Today, the entire education planning journey in India is very slow. If a parent wants to save, they may visit a financial planner. If their child needs an education loan, they may approach a bank. We wanted to reduce these pain points, and bring the entire journey on to one platform so that parents can have a more seamless and centralized experience," said Eela Dubey and Arindam Sengupta, co-founders, EduFund in a joint statement.

Started in 2020 by founders Eela Dubey and Arindam Sengupta, the company offers a full stack solution dedicated to helping Indian parents plan, save and invest for their children's future education. The start up's app also provides access to courses offered through its partnerships with edtechs, counseling services and immigration.

"The demand for world class education in India is growing rapidly, and EduFund's innovative approach to addressing the funding gap for higher education is very exciting. The founders' asset management expertise and deep understanding of the market, coupled with the significance of education in Indian culture, makes the company a compelling investment opportunity. We are excited to partner with EduFund in their mission to make higher education accessible to all," said Anvesh Ramineni, managing partner at MMV.