EduFund, a startup that gives Indian parents a roadmap to fund education, raises Rs 50 crore

EduFund, a full‑stack education‑planning and financing platform, has raised $6 million (approximately Rs 50 crore) in a Series A funding round led by Cercano Management and MassMutual Ventures. The raise brings EduFund’s all-time raise to $12 million.

Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund said that its all‑in‑one platform gives Indian parents a complete roadmap to fund education: goal‑based investment portfolios, affordable education loans, visa and forex support, and on‑demand expert counselling, all within a single, intuitive platform.

The startup claims to have served more than 250,000 families and built a partner network of 40+ asset‑management firms and 15+ lending institutions (public‑ and private‑sector banks, NBFCs, and international lenders). It has also formed consumer collaborations with Hamleys, Prisms (school ERP) and, most recently, DTDC.

“Education is a consumer staple in India, and parents already spend about 30 percent of their earnings on it. 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, who is also the CEO of EduFund

EduFund said the new capital will help it scale its AI‑driven advisory by rolling out a personalized planning engine that tailors savings and loan pathways to each family’s goals. The startup will also focus on broadening its loan offerings, with a focus on the underserved undergraduate segment.

In addition, it plans to deepen its reach in Tier‑2 and Tier‑3 cities by bringing structured education‑finance tools to millions of middle‑income families beyond India’s major metros, where tuition is rising 10 to 12% annually and foreign‑exchange‑linked costs continue to outpace income growth.

“We are excited to join EduFund in its journey to become the end‑to‑end education‑financing and preparation partner for Indian families. Higher education is getting costlier and less accessible worldwide, so parents need a platform that helps them start planning early,” said Danika Ariadna, Vice President of Cercano Management.

Doug Russell, Managing Partner and Head of MassMutual Ventures, added, “Our follow‑on investment underscores our confidence in EduFund’s innovative approach. In just two years, the platform has empowered families to plan and save for their children’s future, and we are pleased to support its next phase of growth.”