Lorien Finance secures $1.8 million in seed funding round led by Venture Catalysts
- ByStartupStory | February 14, 2023
Lorien Finance, a fintech platform catering to immigrants relocating to the US, has secured $1.8 million in seed funding, with Venture Catalysts leading the investment round. Venture Catalysts is an early-stage investment platform and startup incubator. The platform offers a range of banking and lending products to its customers.
Lorien Finance, a fintech platform established in 2021, is providing Indian students with collateral-free education loans at attractive interest rates starting from 8.5%. The platform doesn’t impose any additional charges, such as forex conversion fees or prepayment penalties. Venture Catalysts, a startup incubator and early-stage investment platform, has led the $1.8 million seed funding round in Lorien Finance.
Dr Apoorva Ranjan Sharma, founder of Venture Catalysts, expressed excitement over the partnership with Lorien Finance and the positive impact the platform is bringing to the future development of millions of students.
Lorien Finance facilitates the opening of US bank accounts and the acquisition of loans for those seeking overseas education, all from the comfort of India. The platform plans to expand its services to Southeast Asia, South America, and Africa. Nikhil Mudgal, Lorien Finance’s founder, expressed his gratitude to the investors for their trust and support in the platform’s vision. The focus now is on diversifying the product offerings and entering new markets to ensure sustainable growth and empower Indian students financially across North America and Europe.
In addition to Venture Catalysts, several other investors participated in Lorien Finance’s $1.8 million seed funding round. The investors included TSM Ventures, Kunal Shah (Founder of Cred), Suhail Sameer (former CEO of BharatPe), Aman Gupta and Sameer Mehta (founders of boAt), Brijesh Agrawal (co-founder of IndiaMart), and Yaser Moustafa (CEO of NBK).
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