Led · Series A · Sep 2020

LEO1 (formerly Financepeer) offers a 'Financial SAAS' platform for the education sector, including a LEO1 payment card that doubles as a smart ID for institute fee payments, retail purchases, online transactions, ATM withdrawals and campus access. The product also provides immediate education loans to simplify access to funds for students and parents. The company has partnered with over 31 major institutions nationwide. CEO and founder Rohit Gajbhiye says LEO1 addresses irregular cash flow in education that forces institutes to focus on fee recovery, and notes education constitutes roughly 15–20% of household earnings. Over the past three years the company has raised around Rs 290 crore (about $35 million) through two investment rounds. Indian cricket captain Rohit Sharma has invested in and become a brand ambassador for the company, which the CEO says has boosted team morale as LEO1 seeks to scale and further its mission to revolutionise learning. Financepeer is described in the article as an India-based edu-fintech startup. The piece identifies the company by its sector but provides no detailed product description. It announced a $31 million Series B funding round. The round was led by US-based QED Investors and Mumbai-based Aavishkaar Capital. The article does not disclose operating metrics, valuation, or specifics about the company's product roadmap or future plans. Financepeer offers zero-percent interest education fee loans through a zero-cost EMI model and provides insurance protection for a child’s lifetime education fees in case of adverse incidents. The platform is three years old and operates in India. It currently serves over 9 lakh students across 40 Indian cities. The company plans to bolster partnerships with educational institutions and accelerate product development using fresh proceeds. Financepeer recently raised $3 million in a funding round to support these plans.