24th August 2023, Mumbai – Ed-FinTech startup GradRight announced today that it has successfully raised ₹50 crore in Series A funding from IvyCap Ventures, a renowned homegrown venture capital firm. 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.
GradRight is revolutionizing the way students select and finance their education. As the world’s first B2C-SaaS Ed-FinTech ecosystem, GradRight brings together prospective students, universities, and lenders on a single platform. By leveraging technology, data science, and community, GradRight empowers students to make informed decisions on high-return programs, enables universities to identify and admit the most suitable students, and facilitates banks in financing the dreams of high-potential students. The platform eliminates intermediaries, fosters global organization in the higher education sector, and promotes transparency and accountability.
Over the past two years, GradRight’s platform has processed loan requests of over $1.75 billion (INR 14,300 crore) and assisted more than 55,000+ students. The platform boasts partnerships with 15 lenders and over 50 international academic institutions in the US, Canada, and Europe, offering students a choice of 13,100 programs across 1,000 universities. With a significant user base of students from Tier 2 and Tier 3 cities across India, GradRight is bridging the equity gap in accessing global higher education.
Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, stated, “At IvyCap Ventures, we invest in passionate founders with credible professional experience and strong backgrounds, who are committed to highly scalable and innovative business models. GradRight has the potential to transform the global higher education admissions and financing market. Their technology-driven solution is well-positioned for profitable scaling; it is adaptable across markets and can emerge as a leader in the sector.”
Tej Kapoor, Managing Partner of IvyCap Ventures will be joining the board of GradRight on behalf of IvyCap Ventures.
Aman Singh, Co-Founder and CEO of GradRight and Sasidhar Sista, Co-Founder and COO said, “Globally, millions of capable students struggle to select and finance their higher education. Four out of five students who aspire to pursue higher education are unable to enroll, mainly due to a lack of adequate guidance and financial constraints. 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.”