EduFund, an education planning platform from Ahmedabad, has closed an INR 50 crore (~USD 6 million) Series A round led by Cercano Management and MassMutual Ventures. This brings the total funding to USD 12 million (~INR 103.67 crore) and cements EduFund’s position as a leader in the education financing space.
Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund is a full-stack platform that enables Indian families to plan and finance their children’s education from early schooling to higher education – both in India and abroad. Its suite of services includes goal-based investment portfolios, education loans, visa and forex assistance, remittance support and expert counselling all in one mobile-first application.
Strategy: AI-Powered Advisory, Loan Expansion and Bharat Outreach
As per the company statement, the new funds will be deployed across three key areas:
- AI-Powered Planning Engine: EduFund will launch an AI-driven planning engine that will tailor savings and loan strategies to individual financial goals. This is in line with the broader fintech trend of hyper-personalisation, where data-backed decision-making is used for families navigating education costs.
- Loan for Underserved Undergraduate Students: A significant portion of the funds will go towards expanding EduFund’s education loan offerings, especially for undergraduate students in tier-II and tier-III cities, where access to structured financing is scarce.
- Geographical Expansion: The platform will deepen its reach into India’s smaller cities and towns, where education expenses are growing faster than household incomes. The company is addressing the “education-financing gap” – the widening disparity in access to quality education financing outside metropolitan hubs.
Market and Ecosystem
EduFund has over 2,50,000 families on its platform and has a network of more than 40 asset management firms and 15+ lending institutions, including top-tier public and private banks, NBFCs and global lenders. It also has partnerships with consumer brands like Hamleys, Prisms (school ERP) and DTDC, which extend its ecosystem beyond pure financial services into the education and logistics space.
The platform allows investment in mutual funds, US ETFs and digital gold with partnerships with reputed names like Kotak Mahindra Bank, HDFC Bank, ICICI Bank, and Navi.
Founders and Investors Weigh In
Co-founder and CEO Eela Dubey emphasised the importance of education as a critical financial priority for Indian families, stating:
“Education remains a top spending priority, often accounting for nearly 30% of household income. With rising costs both at home and abroad, middle-class families face mounting pressure. This new funding strengthens our resolve to provide affordable, structured solutions for them.”
Backing this vision, Danika Ariadna, Vice President at Cercano Management, noted:
“EduFund is poised to become the end-to-end education-financing and preparation partner for Indian families. As education becomes less accessible globally, early planning is key.”
Doug Russell, Managing Partner at MassMutual Ventures, highlighted the platform’s rapid progress:
“In just two years, EduFund has empowered thousands of families with tools to plan for their children’s future. We are proud to support their next phase of growth.”
Industry Context
EduFund Series A fundraising comes at a time when the Indian edtech sector faces cooling investor interest. According to some reports, the sector attracted just USD 188 million (~INR 1,624 crore) across 15 deals in H1 2025, a steep decline compared to the boom years post-2020. However, education-fintech hybrids like EduFund and Leap Finance—which recently secured a USD 100 million (~INR 863.94 crore) debt facility—are bucking the trend by addressing real-world affordability gaps rather than speculative digital classroom models.
Outlook
EduFund’s successful raise and clear focus on Tier II/III penetration, AI-driven advisory, and undergraduate loan support position it uniquely within a fragmented and competitive landscape. As educational inflation continues to challenge middle-income families, platforms offering comprehensive, affordable, and intelligent financing solutions may well define the next era of edtech innovation in India.
With growing user adoption and institutional backing, EduFund is making a strong case as not just a financial services provider—but a strategic education partner for Indian households.
About EduFund
- Founded: 2020
- Founders: Eela Dubey, Arindam Sengupta
- Headquarters: Ahmedabad, India
- Total Funding: USD 12 million
- Key Investors: Cercano Management, MassMutual Ventures, DSP Mutual Fund, Kunal Shah (CRED), Anchorage Capital Partners
- Users: 2,50,000+ families
- Services: Investment, Loans, Visa & Forex Support, Remittance, Counselling
- Partnerships: 40+ Asset Managers, 15+ Lending Institutions, Kotak, ICICI, HDFC, Navi
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