ImpactAlpha, August 10 – Education accounts for 15% to 20% of most Indian households’ income, and costs are going up. Bangalore-based Jodo works with fee-based schools in India to set up payment plans for families, making education more affordable to students while ensuring schools can meet their cash flow needs.
Jodo partners with more than 700 schools, colleges, universities and skills training organizations.
Tiger Global led Jodo’s $15 million Series A round. Elevation Capital and Matrix Partners India reupped their investments.
Financial providers like Indian School Finance Company and Varthana focus on the educator side of education access in India, providing loans to schools, particularly low-fee private schools.
In April, Financepeer raised $31 million from QED Investors and Aavishkaar Capital to provide tuition loans to students, while Dubai-based Zenda secured $9.4 million to expand its “buy now, pay later” education finance product to students in India. Propelld clinched $35 million in February to expand its student lending partnership with Indian schools.