EduFund, a fintech startup focused on education financing, has secured $6 million (INR 51.8 crore) in a Series A funding round led by Cercano Management, with continued participation from existing backer MassMutual Ventures.
The company plans to utilise the capital to roll out its customised planning engine, designed to address both savings and education loan needs aligned with users’ financial aspirations. EduFund also aims to strengthen its loan product offerings and expand into tier II and III cities, addressing underserved markets.
Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund provides a comprehensive platform that helps Indian families plan, save, and invest for their children’s education needs—both in India and overseas. The startup claims to support over 250,000 families and boasts a wide network of partners, including 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,” said Eela Dubey, Co-founder of EduFund.
With this round, EduFund’s total capital raised now stands at $12 million. Past investors include DSP Mutual Fund, CRED’s Kunal Shah, and Anchorage Capital Partners.
The funding comes at a time when demand for structured education planning solutions is rising, driven by increasing tuition costs and the growing aspiration among Indian families to access quality global education.
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