EduFund Mops Up $6 Mn From Cercano, MassMutual

Education-focused fintech startup EduFund has secured $6 Mn (INR 51.8 Cr) in a Series A funding round led by Cercano Management, with participation from existing investor MassMutual Ventures.

The startup plans to deploy the fresh proceeds to launch its customised planning engine that caters to customers’ savings and loan needs tailored to their financial goals, besides expanding its loan offerings and outreach in tier II and III cities.

Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund offers a full-stack solution to help Indian parents plan, save, and invest in their children’s education. The company claims it works with more than 250K families and has a partner network of over 40 asset‑management firms and more than 15 lending institutions. 

“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,” Dubey said.

Since its inception, the startup has raised $12 Mn from DSP Mutual Fund, CRED’s Kunal Shah and Anchorage Capital Partners.

(The story will be updated soon.)

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