When Raviteja Koneru witnessed several of his childhood friends suffer mental anguish as a result of being punished due to late fee payments, it hit him hard. Even after decades, the practice of punishing the child (due to delay in payment of fees) is still prevalent today. With a motive to ensure that no child faces such an embarrassing situation and that every child receives access and good quality education, Raviteja along with his team founded Preksha Edutech.
Preksha Edutech provides innovative financing solutions aimed at providing relief to students, parents, and educational institutions.
With its zero-fee financing solutions, the startup offers relief to families and students who may be struggling with tuition fees or other educational expenses, where the parent can pay the same fees in Multiple EMIs at no cost instead of paying bulk fees to the school.
The startup therefore eases financial constraints that many parents and educational institutions face when it comes to providing quality education.
Preksha Edutech is committed to financial inclusion, particularly in tier-2 cities and towns where there is no formal access to credit. The startup’s mission is to provide access to affordable financing to everyone who needs it, regardless of their financial circumstances.
“Our zero fee financing solutions alleviate the financial burden on parents and educational institutions, making quality education accessible to students from all walks of life” said the Founder Raviteja.
The startup works on a revenue model which is basically the subvention offered by the educational institutes and the fee collection platform offered to the educational institute. “We have tied up with 50+ institutes which have a collaborative strength of more than 2 lakh students. We plan to tie up with more than 500 institutes across South India for the next academic year,” said the founder.
Below is a brief snapshot of the Startup:
Founders : Raviteja Koneru, Madhan Mohan Parki, Sekhar Bhamidipati, Sneha Lakshman and Sai Charan Tej Pulla. (Mr.Sanjay Romala, VP Sales-Andhra & TS)
Started : September 2022
Industry : Fintech
Number of team Members: 20
Funding : Bootstrapped and currently in talks with investors for raising funds
Lending Partners: Premium NBFC’s as lending Partners
Market of Operation: Go to Market at the moment, launching for TS and AP Markets.
Revenues: Pre Revenue
Company’s culture:
Aggressive Methodical Easy Going
PTIM: Dr. A.P.J. Abdul Kalam, who was known for his advocacy of education and his efforts to promote scientific and technological development in the country
