Latest news with #CercanoManagement
Economic Times
7 days ago
- Business
- Economic Times
Education finance platform EduFund raises $6 million from Cercano Management, MassMutual Ventures
ETtech EduFund, an education planning and financing platform, has raised $6 million in a funding round led by Cercano Management and MassMutual Ventures. The funds will be used for scaling artificial intelligence (AI)-driven advisory, expanding the range of loan products, and deepening presence in tier II and tier III markets. 'Education is a consumer staple in India, and parents already spend about 30 percent of their earnings on it. With costs rising at home and abroad, the middle-class Indian parent faces a major challenge,' said Eela Dubey, cofounder and chief executive of EduFund. Founded in 2020, EduFund helps fund children's education from early years to higher studies. Its suite of tools spans investments, loans, visas, immigration, international remittance, and expert counselling, translating to end-to-end financial planning. The company has a partner network of over 40 asset management firms and more than 15 lending institutions (public and private sector banks, NBFCs, and international lenders).This comes at a time when there is a temporary dip in the global study abroad market driven by macroeconomic challenges and stricter visa startup has raised a total of $12 million to date. Commenting on the investment, Danika Ariadna, vice president of Cercano Management, said, 'Higher education is getting costlier and less accessible worldwide. So, parents need a platform that helps them start planning early.' 'Our follow-on investment underscores our confidence in EduFund's innovative approach,' said Doug Russell, managing partner and head of MassMutual June 3, education financing startup GyanDhan raised Rs 50 crore in a funding round from edtech firm Classplus and venture capital firm Pravega Ventures. In March, Leap Finance, the student lending arm of study abroad platform Leap, secured $100 million in debt funding from London-headquartered bank HSBC through its Asean Growth Fund. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. From near bankruptcy to blockbuster drug: How Khorakiwala turned around Wockhardt Paid less than plumbers? The real story of freshers' salaries at Infy, TCS. What if Tata Motors buys Iveco's truck unit? Will it propel or drag like JLR? As deposit ground slips under PSU banks' feet, they chase the wealthy If data is the new oil, are data centres the smokestacks of the digital age? Stock Radar: M&M likely to break out from 1-year consolidation range; time to buy? Will consumer stocks see a comeback this festive season? 12 stocks to keep an eye on even when analysts are not bullish Don't fear volatility, focus on businesses: 5 mid-cap stocks from different sectors with upside potential of up to 27% Best way to deal with volatility, just ' Hold' for wealth creation: 7 large-cap stocks with an upside potential of up to 41%
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Business Standard
21-07-2025
- Business
- Business Standard
EduFund secures $6 million in Series A round to expand beyond metro cities
Education-focused investing platform EduFund on Monday announced it has raised $6 million in a Series A round led by Cercano Management and MassMutual Ventures. In total, the company has so far raised $12 million. With the new investment, EduFund plans to expand beyond metropolitan areas to deepen its reach in Tier-I and Tier-II cities, launch AI-powered tools to personalise education planning, and broaden loan offerings with a focus on the underserved undergraduate segment. Founded by Eela Dubey and Arindam Sengupta in 2020, the platform offers a comprehensive roadmap for funding education, including goal-based investment portfolios, affordable education loans, visa and forex support, and on-demand expert counselling. The company has onboarded more than 250,000 families on its platform and built a partner network of over 40 asset-management firms and more than 15 lending institutions (public- and private-sector banks, non-banking financial companies, and international lenders). "Education is a consumer staple in India, and parents already spend about 30 per cent of their earnings on it. With costs rising at home and abroad, the middle-class Indian parent faces a major challenge. Backed by a community of 250,000 families, we are more committed than ever to solving this problem, and this Series A fundraise is a testament to that commitment," said Eela Dubey, co-founder and chief executive officer of EduFund. Commenting on the development, Danika Ariadna, vice president of Cercano Management, said, "We are excited to join EduFund in its journey to become the end-to-end education-financing and preparation partner for Indian families. Higher education is getting costlier and less accessible worldwide, so parents need a platform that helps them start planning early."
