In a significant development for the financial technology sector, HiWi, a dynamic cross-border fintech platform, has successfully raised Rs 7.25 crore in a pre-seed round of funding. The backing comes from prominent investors, Unicorn India Ventures, and the Unmaj Group Family Office. This financial infusion is set to catalyze HiWi’s plans for product development and a strategic go-to-market rollout, as revealed in their recent press release.
Founded by a trio of visionary entrepreneurs – Dewang Neralla, Geeta Chauhan, and Ujwal Tamminedi – HiWi emerges as a centralized, integrated solution for study abroad agencies and students seeking financial empowerment. This innovative platform offers a comprehensive suite of financial services, providing students with the tools to navigate the financial aspects of studying abroad seamlessly. These services include a dedicated app that facilitates money transfers, opens foreign bank accounts, explores financing alternatives, tracks card expenses, and accrues valuable loyalty points.
Headquartered in Mumbai, HiWi sets its sights on assisting over 25,000 students in remitting a staggering $100 million by March 2025. Simultaneously, it aspires to onboard 5,000 educational consultants onto its platform, enhancing accessibility to a broad spectrum of financial solutions for international education.
Unicorn India Ventures, one of the key investors in this pre-seed round, recently celebrated the successful first close of its third fund, amassing an impressive Rs 225 crore. The company’s portfolio already boasts a diversified range of fintech and technology-focused ventures, including notable names like SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, and FutureCure.
HiWi mission is to empower students and educational consultants on a global scale and represents a compelling narrative in the realm of fintech. As it continues to make strides with the support of Unicorn India Ventures and the Unmaj Group Family Office, it’s poised to shape the future of cross-border financial services for international students, making their aspirations a reality with greater ease and convenience.
