MyClassboard, an end-to-end school management software that helps schools to automate and streamline their day-to-day operations has raised Rs 4.5 crore funding from ICICI Bank.
MCB will use the funds to scale from 2,500 schools to 10,000 schools and serve 50,00,000 students in the next 12-24 months. Business Development – Plan to reach out to more schools with the partnership of 500+ Relationship Managers from ICICI TASC Team. Platform Development – Partnering with ICICI to build connected banking/Fintech Products for student fee loans and student wallets.
“We are happy to announce our Pre-Series A funding round from ICICI Bank. We will be using this fund to scale from 15 lac students (across 2,500 schools) to 50 lac students (across 10,000+ schools). We are also expanding to the Middle East and South-East Asian markets,” said Ajay Sakhamuri, Founder and CEO, MyClassboard.
Since March, MCB claims that it has been adding new schools serving more than 50,000 students on a month on month basis. It was founded in 2010 by Ajay Sakhamuri, Founder and CEO and Ravindra Adusumilli, Co-founder and CTO.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.