Edtech firm GradRight secures Rs 50 cr in Series A funding from IvyCap Ventures

GradRight, an ed-fintech company that provides education loans and financial planning services for students pursuing higher education abroad, has raised Rs 50 crore in Series A funding from IvyCap Ventures.

The investment will be used to expand GradRight's team, technology platform, and product offerings. It will also be used to expand GradRight's reach to more students and parents across India.

Tej Kapoor, managing partner at IvyCap Ventures, will join the GradRight board of directors.

GradRight, which was founded in 2019 by Aman Singh and Sasidhar Sista, helps prospective students who are planning to study abroad to find the right universities, education loans, and financial planning services. It also helps banks and other financial institutions to reach out to students who are looking for education loans.

IvyCap Ventures is a venture capital firm that invests in early-stage startups in India. The firm has invested in over 50 startups, including MyGlamm, Lenskart, and UrbanCompany.

“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.

GradRight claims to have processed over $1.75 billion in loan requests and served over 55,000 students over the last two years through its platform.

“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 collaborations with 15 lenders and 50+ international academic institutions in the United States, Canada, and Europe, and offers students a selection of 13,100 curricula from 1,000 universities.