Rohit Sharma makes strategic investment in LEO1: All you need to know about the edu-fintech start-up
- Indian cricket captain Rohit Sharma has announced his first ever investment in a fintech startup called LEO1. The company will use the amount for its innovation, technology, and expansion.
LEO1, an edu-fintech start-up (formerly known as Financepeer), on Tuesday announced that Indian cricket captain Rohit Sharma has made a strategic investment in the company.
The investment by Rohit Sharma “represents a significant step forward for LEO1 in its goal to resolve the long-pending cash-flow issue in the educational institutes along with providing innovative solutions for students across India,” LEO1 said in a statement.
The edu-fintech start-up, founded in 2018, aims to utilise the investment towards innovation, technology, and expansion.
In the statement, Rohit Sharma said: “Iam thrilled to support LEO1 in its mission to revolutionise learning and make quality education accessible to everyone. Their approach, unwavering commitment, and entrepreneurial spirit are truly inspiring as they work to positively impact the lives of aspiring students and their parents. This partnership presents an incredible opportunity for me to back initiatives that can make a significant difference for an entire generation.”
Over the last three years, LEO1 raised $35 million (about ₹291 crore)through two investmentrounds.
LEO1 founder and chief executive officer Rohit Gajbhiye said: “We aim to instil a crucial discipline within the education sector. Irregular cash flow often leads to excessive efforts focused solely on fee recovery over other important developments. This is an ancient problemfor institutesacross thecountry.Parallelly,given that education constitutes a significant portion — 15-20 per cent — of householdearnings,parents andstudents lacksufficient motivationto make timelypayments. LEO1 addressesthesechallengesthrough our 'Financial SAAS' model that motivates responsible financial behaviour in them.”
“RohitSharma'sendorsementhasinfusedour teamswith tremendous enthusiasm to deliver outstanding work. We draw inspiration from many of Rohit Sharma's qualities. With his support as our brand ambassador and now as a valued investor, I am confident that we will become even more efficient and motivated.Iforesee a promising future for LEO1. I express gratitude to all our investors and extend a warm welcome to Rohit into our community,” Gajbhiye added.
Recently, the company introduced a ‘Financial SAAS’ product that offers a comprehensive solution to financial transactions within the education sector.
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Business NewsCompaniesStart-upsRohit Sharma makes strategic investment in LEO1: All you need to know about the edu-fintech start-up
First Published:18 Jun 2024, 08:04 PM IST
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