Mumbai-based GradRight has raised ₹50 crore in Series A funding from IvyCap Ventures.
Tej Kapoor, IvyCap Ventures’ managing partner will join the GradRight’s board. The start-up plans to deploy the incoming funding for expanding its business, said the company in its statement.
Founded in 2019 by Aman Singh and Sasidhar Sista, GradRight brings together prospective students, universities and lenders on a single platform.
“The infusion of funds will serve as a catalyst for GradRight’s vision to transform college selection and financing for students through its AI-powered ecosystem of universities and banks. GradRight aims to make international higher education accessible and affordable for lower and middle income students across the world,” said the company in its statement.
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Over the past two years, GradRight claims to have processed loan requests of more than $1.75 billion and assisted more than 55,000 students via its platform.
“As a tech-first company with a platform-based approach to solving these problems, we are committed to ensuring that every student has the resources they need to obtain the education they deserve. We are delighted that IvyCap Ventures shares our vision and has chosen to support us in our mission and global ambition. Their belief in our unique business model further strengthens our commitment,” said Aman Singh, Co-Founder and CEO of GradRight and Sasidhar Sista, Co-Founder and COO.
The company has partnerships with 15 lenders and 50+ international academic institutions in the US, Canada and Europe, offering students a choice of 13,100 programmes across 1,000 universities.