Financepeer – Lead 2021 News
Financepeer aims to transform the Tamilnadu’s education system by fee financing
- The company has partnered with Lead21 held at Chennai
- Financepeer has already provided fee financing to more than 87,000 students of Tamil Nadu
- Company has partnered with more than 375 schools / institutes in the region
Google-incubated fintech startup Financepeer has partnered with the India’s leading education platform Lead21 to further strengthen its endeavors of transforming the education ecosystem through its fee financing model. Financepeer, which aims to reduce the financial gap in the education sector by financing the fee of the students at zero percent interest and zero cost EMI, is leading the change and bringing the education reform in the coun try by developing economic models for social impact.The event was attended by NCERT Director Dr Hrushikesh Senapati, University of Madras Vice-Chancellor Prof Dr S Gowri, DOT School of Design CEO MrRamanath and several school leaders, institutional leaders, teachers and other stakeholders of education fraternity in India to explore opportunities, facilitate collaboration through continuous interaction, engagement and knowledge shar ing for a better future.
During a session in the event which was attended by Industry exp erts, Mr.SunitGajbhiye, CBO & Co-Founder, Financepeerand Mr. Naveesh Reddy, COO and co founder,Financepeer laid emphasis on the accessibility of quality education to bottom of the pyramid which comprises of lower income groups through digitization. He said, ”We are on the verge of witnessing a major reform in the ed ucation system and this decade will be a test imony to a major shift in the learning methodology.”It is equally important to improve the financial literacy a mong people that can facilitate dealing with finances and financial institutions more accessible. It can take away the stigma and fear around dealing with money, he added.
Higher financial literacy will increase students’ perceived value of schooling by boosting their time commitment to education. Also, the bottom of the pyramid needs to be involved in financial literacy mechanism then and only the idea of financial inclusion can look more effective. All the stakeholders must work in conjunction for finan cial literacy through a combination of innovative strategies.Talking about the strategy to empower the students through the Financepeer model, Mr Vivek Anand Oberoi, Chief Strategic Officer, Financepeer said, “We will be providing free ERPs for the schools along with facilitating the students with zero cost EMI and free insurance.”
He also announced that Financepeer has ready 12000Cr of deployable funds in Tamil Nadu and rest of India for education fees.Mr Oberoi also laid emphasis on the importance of providing the quality education to the und erprivileged as he said that such model will bring a major reform in the education sector as it aligns with the go vernment’s Education for All initiative.
The dignitaries and industry experts hailed the initiative and social impact that Financepeer fee financing model has created in the lives of people post pandemic.Financepeer started its operations in 2017 and is currently ser ving around 15 lakh students and 6,000 schools/colleges, universities and education institutions which makes it the largest player in this segment. During the first seven months of the pandemic, the company has added over 10 lakh users owing to the financial crisis due to the Covid induced lockdown.
