Zinc, an edu-wealth startup founded by Prashanth Ranganathan, former CEO of PayU Finance India, has raised $25.5 million in its seed round, positioning itself as a key player in helping families finance global educational goals. The funding was led by Nexus Venture Partners, with participation from Quona Capital, EDBI, Global Ventures, and Credit Saison.
With this new capital, Zinc plans to expand its offerings in product innovation and financial planning tailored to overseas education. The startup aims to create financial solutions addressing challenges like rising tuition costs and foreign exchange fluctuations. Zinc’s proprietary AI platform, Ada, delivers personalized university counselling for Indian students, leveraging AI to optimize the selection process and guide students toward suitable universities.
Zinc offers global investment tools to help parents build a secure financial foundation by investing in international markets. This approach not only expands savings but also provides a hedge against currency volatility, essential for securing long-term financial plans for education. Zinc has achieved SEBI RIA (Registered Investment Advisor) license approval, in-principle approval for a PSP (Payment Service Provider) license, and has applied for a brokerage license from the International Financial Services Centres Authority (IFSCA) in GIFT City.
Ranganathan, who previously founded Paysense (acquired by PayU in 2020), joins a wave of seasoned founders securing large seed rounds in 2024. Recent significant seed rounds include blockchain startup Avail ($27 million), Mukesh Bansal’s venture Lyskraft ($26 million), and generative AI startups EMA ($25 million) and Nesya ($20 million). Wealthtech startup Centricity and elder care provider Primus Senior Living also closed seed rounds of $20 million each, reflecting strong investor interest in innovation across sectors.
Zinc’s innovative approach promises to reshape how families finance global education, providing both financial and strategic support to meet the aspirations of the next generation.
