EduFund Raises $6M Series A to Expand Education Financing Across Tier II, Tier III Indian Cities

EduFund, an Indian fintech startup focused on education planning and financing, has raised $6 million in a Series A funding round led by Cercano Management and MassMutual Ventures, bringing its total capital raised to $12 million. Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund offers an all-in-one platform that includes goal-based investment portfolios, affordable education loans, visa and forex support, and expert financial counseling, serving over 250,000 families. The company plans to use the new funds to enhance its AI-powered personalized planning engine, expand loan offerings especially for undergraduate students, and increase its presence in tier II and III cities where education costs are rising faster than incomes. This expansion aims to address the education financing gap faced by middle-income families outside major metropolitan areas, who spend nearly a third of their household income on education. EduFund partners with more than 40 asset management companies and over 15 lenders, including public and private banks, NBFCs, and international institutions. The startup also collaborates with consumer brands and aims to provide accessible, tailored financial solutions to meet the rising demand for education financing in India.