EduFund Raises USD 6 Mn Series A to Expand Education Financing in Smaller Cities The newly raised funds will be used to enhance EduFund's AI-powered advisory system, expand its loan offerings for undergraduate students, and increase its presence in tier II and tier III cities across India.
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EduFund has secured USD 6 million in Series A funding from Cercano Management and MassMutual Ventures. This funding round brings the company's total capital raised to USD 12 million.
The newly raised funds will be used to enhance EduFund's AI-powered advisory system, expand its loan offerings for undergraduate students, and increase its presence in tier II and tier III cities across India.
The company aims to address the growing education-financing gap outside major metro areas. Rising tuition costs and currency-linked expenses are making it increasingly difficult for middle-income families to plan long-term education financing. EduFund plans to bridge this gap through accessible, personalised solutions.
"Education remains a top spending priority for Indian families, often accounting for nearly a third of household income. As costs continue to rise both domestically and internationally, middle-class families face mounting pressure. With support from over 250,000 families, this new funding strengthens our resolve to offer meaningful solutions," said Eela Dubey, Co-founder and CEO of EduFund.
EduFund was established in 2020 by Eela Dubey and Arindam Sengupta. It was created with the goal of helping Indian parents fund their children's education from early schooling through college. It provides a full suite of services including investment tools, education loans, visa and immigration guidance, international remittance support, and expert financial counselling.
Its platform offers goal-based investment plans, affordable financing options, and tailored advice—all within a single application. EduFund claims to have partnered with more than 40 asset management companies and over 15 lenders, including public and private banks as well as non-banking financial companies. The company has also teamed up with consumer brands such as Hamleys, school software provider Prisms, and logistics company DTDC.
Danika Ariadna, Vice President at Cercano Management, added, "Parents are looking for structured solutions to finance higher education as costs rise globally. EduFund is poised to become a central part of that planning process."
Doug Russell, Managing Partner at MassMutual Ventures, noted, "EduFund's progress in just two years has been remarkable. We believe it is well-positioned to lead the next wave of education-financing innovation in India."
The company now focuses on deepening its product features and extending access to financial planning tools in underserved communities across the country.
