Jodo raises $15M in Series A funding led by Tiger Global
- ByStartupStory | August 9, 2022
Jodo, a fintech company in the educational payments space, has raised $15 million in Series A funding headed by Tiger Global. Existing investors Elevation Capital & Matrix Partners India, through whom Jodo previously received $4 million, also participated in the round. The funds will be utilized to expedite product development and sales, as well as to expand the Jodo team.
Atulya Bhat, Raghav Nagarajan, & Koustav Dey launched the firm in 2020 after noticing that many households struggle to pay education fees owing to a lack of alternative payment choices. “Education fee payments, one of the most significant and high-value expenditure categories, has seen minimal innovation and also is underperforming in digitalization,” claimed the Jodo creators. Jodo has created industry-first payment and loan solutions from the bottom up, with the needs of parents, students, & educational institutions in mind.
“We will double down on our momentum & continue to bring innovative financial solutions to market with this cash. We are happy to have Tiger Global join us on this adventure, and we are grateful to Matrix Partners India & Elevation Capital for their ongoing support.” The initial set of goods from Jodo is a suite of specialized payment and loan products designed to make tuition payments quick and reasonable for parents while making fee collection easy for educational institutions.
The fintech business is now focusing on the private education industry, a high-value $100 billion-plus annual expenditure segment that lacks the appropriate financial instruments. The startup’s solutions presently enable fee collection for 700+ educational establishments and have processed fee payments for over 100,000 students. Their solutions ensure that both parents and schools have a smooth fee experience.
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