Mumbai, 19th June 2024: LEO1, a leading Edu-fintech company (Formerly known as Financepeer), has announced a strategic investment from the Indian cricket captain, Rohit Sharma
This marks as Rohit Sharmaโs first ever investment in a fintech start-up. This 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 INR 291 crores) through two investment rounds, displaying its growth and investor trust. Investment is directed towards innovation, technology, and expansion.
‘QED Investors,’ ‘Aavishkaar Capital,’ ‘Ardent Investors LLC,’ ‘9 Unicorn,’ ‘DMI Finance,’ ‘MS Fincap,’ ‘Angel Bay,’ ‘Ratna Fin Capital,’ ‘Neweva Capital,’ ‘AAR EM Ventures,’ and several other investors have also contributed funds to LEO1.
Rohit Sharma conveyed his enthusiasm for collaborating with LEO1, stating, “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.”
Rohit Gajbhiye, Chief Executive Officer & Founder of LEO1, remarked, “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 portionโ15-20%โof 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.”ย
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.”
LEO1’s recently introduced ‘Financial SAAS’ product offers a comprehensive solution for financial transactions within the education sector. It includes 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.
Additionally, as part of the solution, immediate education loans are available for those in need, simplifying access to funds for educational expenses. 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.
LEO1 has joined forces with 31+ major institutions nationwide to offer its ‘Financial SAAS’ platform, benefiting around half a million students across the country.
About LEO1: https://www.leo1.in/
LEO1 (Formerly known as Financepeer) is a pioneering Edu-fintech company, headquartered in Mumbai, established in 2018. The Financial SAAS is designed to resolve long pending cashflow issue for educational institutions through its comprehensive Financial SAAS platform. The company has partnered with over 31+ large institutions like Narayana, Jain Group, SAGE University etc. Around half a million students are benefitting from the LEO1 Financial SAAS solutions.
Key modules include Rewards, Smart ID Cards, Fee Management, and Financial Literacy, collectively empowering institutions with simplified fee collection, enhanced transparency, and real-time insights. Notably,ย LEO1ย incentivizes responsible financial behaviour by rewarding timely fee payments withย LEO1ย Coins. These coins can be redeemed across various brands for discounts and vouchers, aligning with the broader mission of making education more accessible by potentially rebating fees for students who consistently meet payment deadlines. This initiative contributes to the larger vision of fostering a cashless ecosystem within educational institutes, enabling timely cashflow and is also aligned with ‘Digital India’ initiative.