The team is pleased to share that GradRight has raised ₹50 crore ($6.1 million) in Series A funding from IvyCap Ventures Advisors Private Limited.
This investment round will allow for “a scale-up of our AI-based platform that makes quality international higher education more accessible and affordable for students across the world.”
It will also ensure that GradRight is able to keep their services “completely free of cost for students.”
As the world’s “first” Ed-FinTech B2C-SaaS ecosystem that brings together students, universities and lenders on a single platform, they want “to reimagine the way students select and finance their education.”
They want students to “make smarter decisions on selecting high-return programs, universities to find and select the most suitable students, and banks to finance the dreams of the high-potential students – all powered by technology, data science, and community.”
In doing so, they want to “bring more transparency and accountability in the global higher education space.”
In the last two years, their platform has “handled over ₹ 14,300 crore ($1.75 billion) in loan requests and assisted over 55,000 students find and fund the right education at the right cost.”
They reportedly “offer over 13,100 programs across 1,000 universities for students to choose from.”
GradRight was founded “in 2019 by Aman Singh and Sasidhar Sista.”
Singh, an alum of IIT Delhi and ISB Hyderabad, was “the Founding Project Director of Ashoka University from 2007-2015, and anchored its establishment as a pioneer of liberal arts education in India.” Sista is a BITS Pilani graduate “who was India’s first Fulbright Scholar to pursue a Master’s in Higher Education at the University of Pennsylvania.”
GradRight’s founding team has deep expertise “in global higher education, technology, and education financing.” Initially bootstrapped, the company raised “an earlier round through a marquee roster of angel investors from Silicon Valley and Wall Street.”
As noted by its management, GradRight is “an Ed-FinTech company based between United States and India, committed to driving transparency and accountability in the global higher education sector.”
GradRight is a SaaS platform that “brings together students, banks and universities to power smarter ‘Selection’ and ‘Financing’ of college education.” Using data science, technology and strategic partnerships across the industry, they are “enabling students to find the ‘Right University’ at the ‘Right Cost’.”
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 offers students “a choice of 15 lenders and 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.”
