EduFund Boosts Education Financing with $6 Million Series A Raise

EduFund, a fintech company, has secured USD 6 million in a funding round led by Cercano Management and MassMutual Ventures. The funds will expand AI-driven education advisory services, improve loan offerings focused on underserved markets, and enhance reach in Tier-2 and Tier-3 Indian cities.

Fintech company EduFund recently announced it has raised USD 6 million in a funding round spearheaded by Cercano Management and MassMutual Ventures, bringing their total funds to USD 12 million.

The funds are earmarked for broadening EduFund's AI-driven advisory services to support family education goals, expanding their loan offerings to underserved undergraduate markets, and extending their reach in India's Tier-2 and Tier-3 towns. The focus will be on structured educational finance tools for middle-income families outside major metropolitan areas.

According to EduFund co-founder and CEO Eela Dubey, 'Education is a significant expense in India, consuming about 30% of family income. With the help of a supportive community of 250,000 families, we are dedicated to alleviating this financial burden, and our recent funding round reaffirms that commitment.'

(With inputs from agencies.)