Rohit Sharma Makes an Investment in Edu-Fintech Pioneer LEO1
LEO1, an edu-fintech company (formerly known as Financepeer), has announced a strategic investment from Indian cricket captain Rohit Sharma. This marks Rohit Sharma’s first ever investment in a fintech start-up.
LEO1 aims to resolve long-pending cash flow issues in educational institutes while also providing innovative solutions for students across India. Over the last three years, the company has raised $35 million (about Rs 291 crore) through two investment rounds.
Investors who have contributed to the fundraise of LEO1 include ‘QED Investors,’ ‘Aavishkar Capital,’ ‘Ardent Investors LLC,’ ‘9 Unicorn,’ ‘DMI Finance,’ ‘MS Fincap,’ ‘Angel Bay,’ ‘Ratna Fin Capital,’ ‘Neweva Capital,’ ‘AAR EM Ventures’.
Rohit Sharma said, “This partnership presents an incredible opportunity for me to back initiatives that can make a significant difference for an entire generation.”
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Rohit Gajbhiye, Chief Executive Officer and Founder of LEO1, said, “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.”
He added, “Parallelly, given that education constitutes a significant portion—15–20 per cent—of 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 behavior in them.”
LEO1’s recently introduced ‘Financial SAAS’ product offers a comprehensive solution for financial transactions within the education sector. It includes a 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, the platform also claims to incentivize timely fee payments through a reward mechanism, encouraging responsible financial behavior. LEO1 has joined forces with 31+ major institutions nationwide to offer its ‘Financial SAAS’ platform, as per a company statement.
