Rohit Sharma makes debut fintech investment in LEO1

NEW DELHI: In a strategic move set to redefine the intersection of education and finance, Indian cricket captain Rohit Sharma has announced his maiden investment in LEO1, a prominent Edu-fintech company formerly known as Financepeer. This investment not only marks Sharma’s foray into the fintech sector but also underscores his commitment to enhancing educational accessibility across India.

LEO1, headquartered in Mumbai and established in 2018, has garnered attention with its pioneering ‘Financial SAAS’ platform aimed at tackling long-standing cash flow challenges within educational institutions nationwide. Over the past three years, the company has secured $35 million (approximately INR 291 crores) across two funding rounds, solidifying its growth trajectory and investor confidence.

“I am thrilled to support LEO1 in its mission to revolutionize learning and make quality education accessible to everyone,” expressed Rohit Sharma, emphasizing his enthusiasm for the collaboration. The partnership signifies a pivotal moment for LEO1, which has garnered support from a consortium of investors including ‘QED Investors,’ ‘Aavishkaar Capital,’ and others.

Rohit Gajbhiye, CEO & Founder of LEO1, highlighted the significance of the investment, stating, “Irregular cash flow remains a critical issue for educational institutions, hindering their development. LEO1’s ‘Financial SAAS’ model promotes responsible financial behaviour among students and parents, streamlining fee management and enhancing transparency.”

The company’s flagship product, the LEO1 payment card, doubles as a Smart ID card, facilitating seamless transactions for institute fees, retail purchases, and ATM withdrawals on and off campus. Beyond transactional convenience, the platform incentivizes punctual fee payments through a rewards system, fostering financial discipline among users.

LEO1 has already forged partnerships with over 31 major educational institutions nationwide, benefiting approximately half a million students. The platform’s comprehensive suite includes modules for fee management, financial literacy, and immediate access to educational loans, addressing diverse financial needs within the education sector.

With Rohit Sharma onboard as both investor and brand ambassador, LEO1 anticipates accelerated growth and innovation in its quest to create a cashless ecosystem within educational institutes, aligning with India’s ‘Digital India’ initiative.