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Indian Cricketer Rohit Sharma Backs Edu-Fintech LEO1 with Strategic Investment Over the last three years, the Mumbai-based company has raised USD 35 million (about INR 291 crore) through two investment rounds.

By Paromita Gupta

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LEO1 Co-founders with Rohit Sharma

Edu-fintech company (formerly known as Financepeer) LEO1 has announced a strategic investment from the Indian cricket captain, Rohit Sharma.

LEO1 has also received funding from QED Investors, Aavishkaar Capital, Ardent Investors LLC, 9Unicorn, DMI Finance, MS Fincap, Angel Bay, Ratna Fin Capital, Neweva Capital, AAR EM Ventures, and a number of additional investors.

Over the last three years, the company has raised USD 35 million (about INR 291 crore) through two investment rounds.

As per the official release, investment will be directed towards innovation, technology, and expansion.

Rohit Sharma said, "I am thrilled to support LEO1 in its mission to revolutionise 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."

Established in 2018 by Rohit Gajbhiye, LEO1 is committed to promoting financial literacy among students, providing them with the knowledge and skills to manage their finances effectively.

The platform recently introduced the 'Financial SAAS' product, which offers a comprehensive solution for financial transactions within the education sector.

It includes a LEO1 payment card that serves as both a smart card and a LEO1 smart ID card within campus premises. The card enables effortless transactions, allowing for tap-and-pay convenience for institute fees, retail purchases, online transactions, and ATM withdrawals, whether on or off-campus. Simultaneously, its role as a smart ID card streamlines access to campus facilities and services, ensuring a hassle-free experience for students.

The platform also incentivizes timely fee payments through a reward mechanism, encouraging responsible financial behaviour. Moreover, LEO1 is committed to promoting financial literacy among students, providing them with the knowledge and skills to manage their finances effectively.

Rohit Gajbhiye, Chief Executive Officer and Founder of LEO1, said, "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 added.

The company claims to have partnered with over 31 large institutions nationwide, like Narayana, Jain Group, SAGE University, etc, to offer its 'Financial SAAS' platform, benefiting around half a million students across the country.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
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