Indian cricket star Rohit Sharma has made his first-ever investment in the fintech sector by backing the edu-fintech startup LEO1. Formerly known as Financepeer, LEO1 focuses on solving cash flow issues for educational institutions and providing innovative financial solutions for students across India.
Backing from Other Investors
Over the past three years, LEO1 has raised $35 million (approximately Rs 291 crore) through two investment rounds. Besides Sharma, other investors include QED Investors, Aavishkar Capital, Ardent Investors LLC, 9Unicorn, DMI Finance, MS Fincap, Angel Bay, Ratna Fin Capital, Neweva Capital, AAR EM Ventures, and several others. The startup plans to use the raised capital for innovation, technology, and expansion, further developing its ‘Financial SAAS’ product and reaching more educational institutions and students.
What Did Rohit Sharma Say?
“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,” said Rohit Sharma.
Rohit Gajbhiye, Chief Executive Officer & Founder of LEO1, added, “Rohit Sharma’s endorsement has infused our teams with tremendous enthusiasm to deliver outstanding work. 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.”
What Solutions Does LEO1 Offer?
LEO1’s ‘Financial SAAS‘ product offers comprehensive financial transaction solutions for the education sector. The LEO1 payment card, which doubles as a Smart ID card, allows for seamless transactions, including institute fees, retail purchases, online transactions, and ATM withdrawals. The card simplifies access to campus facilities and services, enhancing the student experience.
Additionally, the platform provides immediate education loans, making it easier for students to access funds for educational expenses. LEO1 also incentivizes timely fee payments through a reward mechanism, promoting responsible financial behavior.
Partnerships with Major Institutions
LEO1 claims to have partnered with over 31 major institutions nationwide, benefiting around half a million students. With the new investment and Rohit Sharma’s support, the company aims to expand its reach and impact.
“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. LEO1 addresses these challenges through our ‘Financial SAAS’ model that motivates responsible financial behavior,” said Gajbhiye.
With Rohit Sharma’s investment and support, LEO1 is well-positioned to expand its innovative financial solutions, benefiting more educational institutions and students across India.
