Jodo, a fintech startup in the educational payments space, has raised $15 million in Series A funding led by Tiger Global. The round also saw participation from existing investors, Elevation Capital and Matrix Partners India, from whom Jodo has previously raised $4 million.
The funding will be used to accelerate product innovation and sales, and further grow the Jodo team.
The company was founded in 2020 by Atulya Bhat, Raghav Nagarajan, and Koustav Dey who noticed that many households face difficulties while paying tuition fees due to the lack of flexible payment options.
The Jodo founders said, “Education fee payments, one of the most important and high-value spend categories, has seen little innovation and is lagging in digitisation. At Jodo, we have built industry-first payment and lending products grounds-up, keeping the requirements of parents, students, and educational institutes in focus.
“With this capital, we will double down on the momentum and continue to bring innovative financial products to market. We are thrilled to have Tiger Global join us in the journey, and thank Matrix Partners India and Elevation Capital for their continued support”
Jodo’s first set of offerings is a suite of specialised payment and lending products to make fee payments convenient and affordable for parents while making fee collection hassle-free for educational institutes.
The fintech startup is currently focused on catering to the private education sector, a high-value $100 billion-plus annual spend category lacking the right financial products.
The startup’s products currently power fee collection for 700+ educational institutes and have facilitated fee payments for over 100K+ students. Their solutions ensure a seamless fee experience for both schools and parents.
