Education-focused fintech startup GradRight has secured Rs 50 crore in a Series A funding round from IvyCap Ventures.
With this capital, GradRight aims to construct an AI-driven network involving universities and financial institutions to enhance the accessibility and affordability of international higher education for lower and middle-income students worldwide.
“GradRight has the potential to transform the global higher education admissions and financing market,” Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, stated.
“Their technology-driven solution is well-positioned for profitable scaling; it is adaptable across markets and can emerge as a leader in the sector,” Gupta said.
GradRight operates as an education-focused fintech platform that unites students, universities, and lenders on a single digital platform. It leverages technology, data science, and a community-centric approach to facilitate this collaboration.
“Four out of five students who aspire to pursue higher education are unable to enroll, mainly due to a lack of adequate guidance and financial constraints,” Co-founder and CEO Aman Singh and Sasidhar Sista, Co-founder and COO, GradRight, said.
“As a tech-first company with a platform-based approach to solving these problems, we are committed to ensuring that every student has the resources they need to obtain the education they deserve,” the co-founders added.
GradRight says its platform has processed loan requests totalling more than $1.75 billion (Rs 14,300 crore) and has provided support to over 55,000 students. The startup has partnerships with 15 lending institutions and more than 50 international educational institutions in the United States, Canada, and Europe. This extensive network offers students access to a wide array of 13,100 programmes across 1,000 universities.
Edited by Affirunisa Kankudti
