Fintech
Indian cricket icon Rohit Sharma supports Edu-Fintech LEO1 with strategic investments
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Edu-fintech company (formerly known as Financepeer) LEO1 has announced a strategic investment from Indian cricket captain, Rohit Sharma.
LEO1 has also received funding from QED Investors, Aavishkaar Capital, Ardent Investors LLC, 9Unicorn, DMI Finance, MS Fincap, Angel Bay, Ratna Fin Capital, Neweva Capital, AAR EM Ventures and a number of other investors.
Over the past three years, the company has raised $35 million (around Rs 291 million) through two investment rounds.
According to the official press release, investments will be directed towards innovation, technology and expansion.
Rohit Sharma said, “I am thrilled to support LEO1 in its mission to revolutionize learning and make quality education accessible to all. Their approach, unwavering commitment and entrepreneurial spirit are truly inspiring as they work towards having a positive impact on the lives of prospective students and their parents. This partnership represents an incredible opportunity for me to support initiatives that can make a significant difference for an entire generation.”
Founded in 2018 by Rohit Gajbhiye, LEO1 is committed to promoting financial literacy among students by providing them with the knowledge and skills to manage their finances effectively.
The platform recently introduced the “Financial SAAS” product, which offers a complete solution for financial transactions in the education sector.
It includes a LEO1 payment card that serves as both a smart card and a LEO1 smart ID card within campus premises. The card enables simple transactions, enabling tap-and-pay convenience for institution fees, retail purchases, online transactions and ATM withdrawals, both on and off campus. At the same time, its role as a smart ID card simplifies access to campus facilities and services, ensuring a hassle-free experience for students.
The platform also incentivizes timely payment of commissions through a reward mechanism, encouraging responsible financial behavior. Additionally, LEO1 is committed to promoting financial literacy among students, providing them with the knowledge and skills to manage their finances effectively.
Rohit Gajbhiye, CEO and founder of LEO1, said: “Our goal is to instill crucial discipline in the education sector. Irregular cash flow often leads to excessive efforts focused solely on fee recovery over other important developments. This is an age-old problem for institutions across the country.”
“In parallel, given that education constitutes a significant portion, 15-20%, of family earnings, parents and students do not have enough motivation to make timely payments. LEO1 addresses these challenges through our “financial SAAS” model that motivates responsible financial behavior in them,” He added.
The company claims to have partnered with over 31 large institutions nationwide, such as Narayana, Jain Group, SAGE University, etc., to offer its ‘Financial SAAS’ platform, benefiting around half a million students across the country.