Edtech startup Financepeer raised $35 million in Series B round led by QED Investors

• ByStartupStory     |    April 19, 2022

Amidst the bullish period for edtech and fintech spaces in India, Mumbai-based edtech start-up Financepeer is in talks to secure $35 million in its Series B round of funding, led by QED Investors. The Series B round of funding will also witness participation from Atlanta US and Avishkar Capital. 

Launched in 2017 by IIT, IIM alumni Rohit Gajbhiye, Sunit Gajbhiye, Naveesh Reddy, and Debi Prasad Baral, Financepeer proffers education loans at zero percent interest rate. It also offers students EMI options to pay fees with a 10 percent discount and covers the entire education fee in case of mishap. 

Incubated by Google, Financepeer provides digital content to students across various subjects and offers a debit card UVA in partnership with VISA to enable hassle free payments for students.

Financepeer claims to have assisted over 2.2 million students and has operations across 60 countries. It offers help to educational institutes to transform into digital classrooms and is associated with over 6000 educational institutes. 

It has received its pre-Series A funding of $3 million in 2020 from Jaipur-based NBFC MS Fincap, UAE-based conglomerate Danube, Aar Em Ventures, Angelbay Holdings, JITO Angel Network, and HEM Angels.

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