EduFund, the first company in India to cover a child’s higher education journey from savings (in rupees and dollars) through immigration, announced today that it has raised a $1 million seed round. The money will be utilised to augment product offerings and grow market presence, led by Anchorage Capital Partners, with additional investments from ViewTrade Holding – Corp and other angel investors.
EduFund, which was founded in June 2020, is a comprehensive planning tool that helps every parent plan for their child’s higher education journey while also reducing the financial load that comes with high-quality higher education.
“While the majority of Indian parents save for their children’s education, the concept of investing and establishing a structured fund for their children at a young age is still a developing concept. When you consider the escalating expense of a four-year college education, which has been increasing at twice the rate of inflation each year, quality education is becoming more expensive. “At EduFund, we feel that planning ahead of time and making the correct investments outside of typical FDs and LICs is critical, especially considering the high cost of top universities and inflation over time,” stated Eela Dubey, Co-Founder of EduFund.
The platform serves as a one-stop shop for customers by offering a unique college calculator that allows them to calculate the true cost of any educational institution across nations (taking into account issues such as inflation, currency, and accommodation costs). Users can also invest in mutual funds in India and the United States, which helps with saving discipline. The software also assists in reducing the complexity of studying abroad by providing college admissions counselling. It also assists with loan applications and immigration advice.