One of India’s leading edu-fintech company- LEO1 (formerly known as Financepeer) has received a strategic investment from Indian cricket team captain, Rohit Sharma.
For what is known to be Sharma’s first ever investment in a fintech start-up, this development represents a significant step forward for LEO1 in its goal to resolve long pending cashflow issue in the educational institutes along with providing innovative solutions for students across India.
Over the last three years, the company has raised $35 million (about Rs 291 crores) through two investment rounds, displaying its growth and investor trust, and has directed the same towards innovation, technology, and expansion.
Additionally, several other investors including QED Investors, Aavishkar Capital, Ardent Investors, 9 Unicorn, DMI Finance, MS Fincap, Angel Bay, Ratna Fin Capital, Neweva Capital, and AAR EM Ventures amongst others have also contributed funds to LEO1.
Currently, LEO1 has already joined forces with over 31 major institutions nationwide to offer its ‘Financial SAAS’ platform as part of its commitment to promote financial literacy among students, providing them with the knowledge and skills to manage their finances effectively.
Conveying his enthusiasm on making the strategic investment in LEO1, Sharma said, “I am thrilled to support LEO1 in its mission to revolutionize learning and make quality education accessible to everyone. Their approach, unwavering commitment, and entrepreneurial spirit are truly inspiring as they work to positively impact the lives of aspiring students and their parents. This partnership presents an incredible opportunity for me to back initiatives that can make a significant difference for an entire generation.”
To this, Rohit Gajbhiye, Chief Executive Officer and Founder, LEO1, added, “We aim to instill a crucial discipline within the education sector. Irregular cash flow often leads to excessive efforts focused solely on fee recovery over other important developments. This is an ancient problem for institutes across the country. Parallelly, given that education constitutes a significant portion—15-20%—of household earnings, parents and students lack sufficient motivation to make timely payments. LEO1 addresses these challenges through our ‘Financial SAAS’ model that motivates responsible financial behaviour in them.”
He continued, “Rohit Sharma‘s endorsement has infused our teams with tremendous enthusiasm to deliver outstanding work. We draw inspiration from many of Rohit Sharma’s qualities. With his support as our brand ambassador and now as a valued investor, I am confident that we will become even more efficient and motivated. I foresee a promising future for LEO1. I express gratitude to all our investors and extend a warm welcome to Rohit into our community.”
