Mumbai-based ed-fintech startup Invest4Edu has successfully raised $3 million in a seed funding round led by prominent family offices. The startup specializes in providing education planning, saving, and investment services, and plans to use the new funds to accelerate its growth and enhance its impact in early education planning and financial support.

Founded in 2021 by financial industry veterans Peeyush Agrawal, Rozy Efzal, Hemika Tanwar, Chintan Kotak, Tushar Bopche, Aditya Agarwala, and Manoj Sharma, Invest4Edu aims to revolutionize the education planning space. This funding round follows the recent addition of Hemika Tanwar and Chintan Kotak as co-founders.

The startup is focused on bolstering its sales and marketing efforts, advancing technology, and expanding its outreach programs. Peeyush Agrawal, CEO of Invest4Edu, emphasized the importance of this funding, stating, “This is an important step in our journey of making quality education accessible to all. The proceeds will be leveraged to accelerate growth with a primary focus on sales and marketing, technology, and product development.”

Invest4Edu operates in both B2C and B2B2C segments and aims to capture a significant share of the education planning market. The average spending on higher education in India is approximately $73 billion, with the study abroad market valued at $50 billion. The Indian education sector is growing at a CAGR of 10%, while the overseas education market is expected to grow at a CAGR of 12%-14%. Invest4Edu’s addressable market size is estimated at over $2.5 billion, with plans to target over 1.5 million users and empower a million families within the next two years.

The startup has set ambitious revenue goals, including building a $250 million Mutual Fund AUM and achieving a monthly SIP book of $6 million.

Invest4Edu’s product and service offerings include a range of tools such as Personalized Education Journey, Edu AI – a chatbot for education-related queries, Edu Abacus – a college cost calculator, career selector, and study abroad services. Additionally, it provides portfolio management services, investment in mutual funds and stocks, market research, and education loans.

Over the past year, Invest4Edu has created more than 50,000 user education journeys and built a network of over 100 business partners across various sectors. Its financial literacy program for youth has trained over 8,000 individuals, helping them generate work opportunities and enhance their financial knowledge.

As Invest4Edu moves forward with its expanded resources, it aims to solidify its position as a leader in education planning and financial support, driving significant growth and innovation in the sector.