Indian skipper Rohit Sharma has ventured into the fintech arena, by investing in LE01, an edu-fintech company previously known as Financepeer. Over the past three years, the company has raised around Rs 290 crore ($35 million) through two investment rounds, according to a press release.
Expressing his excitement about the partnership, Rohit Sharma said: “I am thrilled to support LEO1 in its mission to revolutionise 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, CEO and Founder of LEO1, highlighted the company’s mission to address the critical issue of irregular cash flow in 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 said.
“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 behaviour in them.” he said.
Gajbhiye emphasised the impact of cricket captain’s endorsement. “Rohit Sharma’s endorsement has infused our teams with tremendous enthusiasm to deliver outstanding work,” Gajbhiye said.
“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.” Gajbhiye added.
LEO1 recently introduced ‘Financial SAAS’, a comprehensive solution for financial transactions within the education sector. The platform includes a LEO1 payment card that doubles as a smart ID card, facilitating easy transactions for institute fees, retail purchases, online transactions, and ATM withdrawals.
Additionally, the card streamlines access to campus facilities and services. The platform offers immediate education loans for those in need, simplifying access to funds for educational expenses. The fintech company has partnered with over 31 major institutions nationwide.
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