Indian captain Rohit Sharma has ventured into the fintech space by investing in LE01, an educational fintech company formerly known as Financepeer. Over the past three years, the company has raised around Rs 290 crore ($35 million) through two investment rounds, according to a press release.
Rohit Sharma expressed his excitement about the partnership, “I am delighted to support LEO1 in their mission to revolutionize learning and make quality education accessible to all. Their focus, unwavering commitment and entrepreneurial spirit are truly inspiring as they work to positively impact the lives of aspiring students and their parents. This partnership represents an incredible opportunity for me to support initiatives that can make a significant difference for an entire generation.”
Rohit Gajbhiye, CEO and Founder, LEO1, highlighted the company’s mission to address the critical issue of irregular cash flow in the education sector. “Irregular cash flow often leads to excessive efforts focused solely on fee recovery instead of other important developments. This is an age-old problem for institutes across the country,” he said.
“As education makes up a major portion (15-20 percent) of household income, parents and students lack sufficient motivation to make payments on time. LEO1 addresses these challenges through our ‘Financial SAAS’ model that motivates responsible financial behavior in them,” he said.
Gajbhiye highlighted the impact of the cricket captain’s backing. “Rohit Sharma’s backing has infused our teams with tremendous enthusiasm to do an outstanding job,” Gajbhiye said.
“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 bright future for LEO1. I express my gratitude to all our investors and warmly welcome Rohit to our community,” added Gajbhiye.
LEO1 has recently introduced “Financial SAAS”, a one-stop solution for financial transactions in the education sector. The platform includes a LEO1 payment card that also functions as a smart ID card, facilitating school tuition transactions, retail purchases, online transactions and ATM withdrawals.
Additionally, the card streamlines access to campus facilities and services. The platform offers immediate educational loans for those in need, simplifying access to funds for educational expenses. The fintech company has partnered with over 31 major institutions across the country.
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