EduFund secures $6 Mn Series A round led by Cercano Management

EduFund, a full‑stack education‑planning and financing platform, has raised $6 million (around Rs 50 crore) in a Series A funding round led by Cercano Management and MassMutual Ventures.

With this round, EduFund has raised a total of $12 million so far.

The funds will be used to launch an AI-based personalized planning tool, offer more loan options for undergraduate students, and grow its reach in tier-II and tier-III cities, where education costs are rising faster than people's incomes.

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“Education is a consumer staple in India, and parents already spend about 30 percent of their earnings on it. With costs rising at home and abroad, the middle‑class Indian parent faces a major challenge. Backed by a community of 250,000 families, we are more committed than ever to solving this problem, and this Series A fundraise is a testament to that commitment,” said Eela Dubey, CEO of EduFund.

“We are excited to join EduFund in its journey to become the end‑to‑end education‑financing and preparation partner for Indian families. Higher education is getting costlier and less accessible worldwide, so parents need a platform that helps them start planning early,” said Danika Ariadna, Vice President of Cercano Management.

Doug Russell, Managing Partner and Head of MassMutual Ventures, added, “Our follow‑on investment underscores our confidence in EduFund’s innovative approach. In just two years, the platform has empowered families to plan and save for their children’s future and we are pleased to support its next phase of growth.”

About EduFund 

Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund said that its all-in-one platform helps Indian parents plan and pay for education by offering goal-based investment options, affordable education loans, visa and forex support and expert counselling—all in one easy-to-use app.

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The startup says it has supported over 2.5 lakh families so far and partnered with 40+ asset management companies and 15+ lenders, including public and private banks, NBFCs, and international loan providers. 

It has also teamed up with brands like Hamleys, Prisms (a school ERP provider) and most recently, DTDC for consumer collaborations.