Financepeer, an edu-fintech business, has raised $31 million in a Series B fundraising round led by QED Investors of the United States and Aavishkaar Capital of Mumbai.
Ardent Ventures, a US-based edu-tech investor, as well as DMI Sparkle Fund, DMI, 9Unicorn, LC Nueva AIF, and Maxar VC, participated in this round.
Financepeer, founded in 2017 by seasoned IIT/IIM/Stanford alumni Rohit Gajbhiye, Sunit Gajbhiye, Naveesh Reddy, and Debi Prasad Baral, serves both offline and online education providers such as pre-schools, K-12, colleges, universities, offline exam prep, ed-tech, and skilling.
Financepeer plans to use the funds to improve its technology platform and offerings, expand and strengthen its education-institution partnerships, and expand its reach in rural areas, according to a press release. This will allow more students, particularly girls, to have easy access to quality education.