EduFund, a startup established by two entrepreneurs, Eela Dubey and Arindam Sengupta,felt that education planning isn’t efficient in India. As an outcome, maximum children cannot even dream of receiving an education in the best colleges. This duo of former Wall Street professionals intends to solve this problem.
Upon being asked what separates India from the rest of the world, a wise man once said, “In India, a parent knows that with some effort from their side, their child can have a life that’s better, more prosperous and rewarding.”
In most cases in the country, that stands true; Indian parents understand and realise the value that education brings to their children. In the long term, any amount of money spent on good education pays off, and the impact of education is lasting.
Meet the Founders
Eela Dubey, Co-Founder, Chief Executive Officer with 9+ years of extensive and comprehensive experience, co-founded EduFund in 2020.
She is a purpose-driven entrepreneur who understands the pain point of parents struggling through financial planning for their children’s education.
Eela started EduFund out of her own experiences and struggles faced when she was just 17 years old. Just like other students, she faced difficulties in financial planning while studying abroad. Eela started her career with Wall Street. She is a graduate cum laude from NYU and a Masters dropout from Columbia University. She also has been a Merit Scholar award while pursuing International Affairs at the New York University (NYU).
Arindam Sengupta, Co-Founder, CIO has over 16 years of work experience in finance; Arindam co-founded EduFund with Eela in 2020. He has worked extensively across geographies at Reliance Capital and Citadel on Wall Street in New York.
Arindam has personal experience procuring admissions in the US and started EduFund as a result of these experiences. Arindam is a graduate of Indiana University, Bloomington, and Princeton.
EduFund’s X- Factor
Now, because education is such a rewarding endeavour, the demand for quality education is high, and so are the tuition costs and living expenses associated. This is a trend that stands true for India as well as education destinations abroad. Quality education is expensive, but that shouldn’t stop children from pursuing their dreams – that’s the mission behind EduFund.
EduFund is India’s first education-focused investment platform. It is a symbiosis of EdTech and FinTech to enable parents to quickly start saving and investing for their children’s higher education. With an intuitive and simple app, the investment journey of a parent saving for their child is made insightful, transparent, and above all, possible.
A few things make a platform like EduFund an immediate need for parents in India- the first one being education inflation. Parents in India make plans and save for their children’s education, but the goal isn’t adjusted for inflation most times. When the time to use that money comes, the amount is well short of what is needed and doesn’t serve its purpose. So how can it be done better?
The EduFund app is equipped with a state-of-the-art education cost calculator. The calculator considers a hundred different variables to give you the amount required for your child’s education in the country and university of choice. With any investment, you need a goal to stay on track, and with the EduFund calculator, you’ve got your plan.
The second important focus of the app is to give parents a whole host of options for investing. If you save without investing, your money is losing value every passing day, and when you need the money to come through for you, it probably would not.
With Edufund, you have the top mutual funds in the country from the leading Asset Management Companies like Nippon, Tata, Invesco and others, and you can start investing in them through EduFund in no time with as little as 100 rupees. As a parent, you can create a monthly SIP to save for your child’s education, and time would be your friend to help you reach your goal.
Save In Dollars, Spend In Dollars
Apart from mutual funds, you also have the option of investing in US stocks and ETFs in dollars.
If your child wants to study abroad in the future, your savings in dollars will save you from the depreciation in the value of the rupee. The American dollar is universally accepted worldwide, and you’d have your savings geographically diversified to ensure stability.
Along with mutual funds and US stocks & ETFs, the team behind EduFund is always working on bringing you more investment avenues to ensure security, stability and wealth generation. With every update, you will see more ways to invest and get closer to your goals.
The All-Around Solution For Higher Education
The third important reason for parents to use EduFund are the allied services that come along with the EduFund app. When you start an education fund for your child, you also get free education counselling from some of the best education counsellors in the country. They would guide your child through application processes, profile building, scholarships, and every
Let’s say you have invested well and saved for your child’s education, but the total amount still falls short. In this case, EduFund helps you get affordable education loans that can get your child to their dream college without becoming a burden on their shoulders. With passing time, the team intends to add more and more of these allied services to help parents navigate their finances better and help children navigate their higher education better.
Get Started On Your Investment Journey
Planning and investing early is the same idea that strengthens what the wise man said about children doing better than their parents in life. It takes some effort, and that effort get lesser when you plan with EduFund.
Download the app today to calculate the education costs for your child in the future, and get investing!