Led by Nexus Venture Partners, the funding round also saw participation from Quona Capital, EDBI, Global Ventures, and Saison Capital
Founded in 2023 by Prashanth Ranganathan, Zinc claims to be an “edu-wealth” startup. It aims to counsel students for overseas education and help their families invest to meet the rising costs of overseas education
Ranganathan was one of the cofounders of PaySense, which was acquired by PayU in 2020. He subsequently joined PayU Credit as CEO, a position he resigned in 2023 to float Zinc
PaySense cofounder and former PayU Credit CEO Prashanth Ranganathan’s overseas education-focussed fintech startup Zinc has emerged out of the stealth mode and raised $25.5 Mn (about INR 214 Cr) in a seed funding round led by Nexus Venture Partners.
The round also saw participation from Quona Capital, EDBI, Global Ventures, and Saison Capital.
The startup plans to utilise the capital to focus on product innovation, scale up AI tools and expand its suite of offerings, it said in a statement.
“Our full suite of services is designed to empower Indian parents with the right tools to invest confidently in their children’s education while mitigating the financial pressures associated with studying abroad,” said Zinc founder and CEO Ranganathan.
Founded in 2023 by Ranganathan, Zinc claims to be an “edu-wealth” startup. It guides Indian students who want to study overseas. It also aims to provide the families of these students USD-denominated investment tools and tailored financial products to meet the rising costs of overseas education and protect them against currency fluctuations.
The startup has launched a product suite called ‘Zinc Honors’ which leverages Zinc’s AI-powered edu-counsellor ‘Ada’ to provide guidance to aspiring students to study overseas.
Content retrieved from: https://inc42.com/buzz/paysense-cofounders-new-startup-bags-25-5-mn-in-seed-funding/.
