Jodo, a fintech startup in the education payments space, announced it has raised $15 million in a fresh funding round led by Tiger Global, a New York-based investment firm.
Existing investors Elevation Capital and Matrix Partners India also participated in the current funding round.
With the latest funding, Jodo plans to scale up its education partnerships to 5,000 institutes over the next 18 months, including schools, colleges, offline coaching centres, and help 1.5 million students with their fee payments.
Founded in 2020 by Atulya Bhat, Raghav Nagarajan and Koustav Dey, Jodo provides a suite of specialised payment and lending products to make fee payments convenient and affordable for parents of students. It also makes fee collection hassle-free for educational institutes.
“Jodo is modernizing payments and credit for India’s education market by increasing convenience and affordability for parents and providing a better workflow for schools and institutions. We are very impressed with Jodo’s progress,” said Alex Cook, partner, Tiger Global.
“We’re privileged to renew our partnership with Atulya, Koustav and Raghav. The enthusiasm with which their products have been adopted by schools and parents alike proves that not only are they solving a deep pain point, but that they are doing so through tech-first solutions that are intuitive to use,” said Mridul Arora, partner, Elevation Capital.
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