LEO1, the pioneering edu-fintech company formerly known as Financepeer, has secured a strategic investment from Indian cricket captain Rohit Sharma.
This marks Sharma’s first-ever investment in a fintech startup and signifies a major step forward for LEO1 in its mission to address cash flow issues in educational institutions while providing innovative solutions for students across India.
Over the past three years, LEO1 has raised $35 million (approximately INR 291 crores) through two investment rounds, showcasing its growth and the trust it has garnered from investors. The new funds are directed towards innovation, technology, and expansion.
In addition to Sharma, LEO1 has attracted investments from a diverse group of backers, including QED Investors, Aavishkar Capital, Ardent Investors LLC, 9 Unicorns, DMI Finance, MS Fincap, Angel Bay, Ratna Fin Capital, Neweva Capital, and AAR EM Ventures, among others.
Expressing his enthusiasm for the collaboration, Rohit Sharma stated, “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.”
Rohit Gajbhiye, Chief Executive Officer and Founder of LEO1, remarked, “We aim to instill crucial financial discipline within the education sector. Irregular cash flow often leads to excessive efforts focused solely on fee recovery over other important developments. This is a long-standing issue for institutes across the country. Given that education constitutes a significant portion—15-20%—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.”
He continued, “Rohit Sharma‘s endorsement has infused our teams with tremendous enthusiasm to deliver outstanding work. We draw inspiration from many of Rohit Sharma’s qualities. 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. I express gratitude to all our investors and extend a warm welcome to Rohit into our community.”
LEO1’s recently introduced ‘Financial SAAS’ product offers a comprehensive solution for financial transactions within the education sector. It includes the LEO1 payment card, which 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, both on and 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, as part of the solution, immediate education loans are available for those in need, simplifying access to funds for educational expenses. The platform also incentivizes timely fee payments through a reward mechanism, encouraging responsible financial behavior. Moreover, LEO1 is committed to promoting financial literacy among students, providing them with the knowledge and skills to manage their finances effectively.
LEO1 has partnered with over 31 major institutions nationwide to offer its ‘Financial SAAS’ platform, benefiting around half a million students across the country.
