UAE’s Danube invests in India-based Financepeer

UAE’s Danube invests in India-based Financepeer

Source: Your Story

Google-incubated education fintech startup Financepeer announced the closure of a fresh funding round of $3 million, led by a Jaipur-based NBFC, MS Fincap.

The other key investors in the round were Danube (UAE's largest conglomerate), Aar Em Ventures, Angelbay Holdings, JITO Angel Network, and HEM Angels.

The Mumbai-based startup said the investment will be used to bolster its partnerships with educational institutions from the existing 1,800 schools to 5,000 schools in the next 12 months, to enhance its edu-fintech product offerings, accelerate product development, and enable organic growth in India.

"Raising funds during the COVID-19 pandemic depicts our strength, positivity and our commitment. During this phase, we are glad we created a positive impact in the lives of thousands of parents who were affected financially. With these fresh funding, we expect