As part of its development aspirations, Fyp, a Gurugram-based neobank for minors, has acquired EdTech startup Edunify. The financial terms of the purchase were not disclosed by the corporation.
Edunify, which launched in 2018, is a pan-India school discovery platform with 1.2 lakh schools in 725 cities, assisting parents in finding, shortlisting, and applying to the finest schools using a single application form. Since its debut, the firm claims to have assisted over 1.5 lakh parents with their admissions journeys, as well as providing admission and fee management services to over 100 schools in seven locations.
Fyp stated that it hopes to expand its user base through school tie-ups across India as a result of this acquisition.
Fyp, which is owned by Pockket Payment Technologies, is a neo banking software that provides digital banking solutions and financial products to teenagers, as well as gamification features and bite-sized content to help them make better financial decisions. With the help of Yes Bank and Visa Network, the software allows minors to receive and send money, as well as shop offline and online using a digital prepaid card number. According to the firm, it also allows user to keep track of all of their costs in one spot.