Singapore fintech startup aims to shake up clunky loan process in Pakistan with AI-powered app
Singapore Fintech Startup Company whipped up $6Million with AI Powered App
Listen up, future leaders of the world! EduFi, a Singapore-based fintech startup, just raised some serious cash to help you chase those big education dreams.
The company whipped up $6.1 million in a pre-seed round to power their artificial intelligence-packed study now, pay later platform.
Their app launched in Pakistan, where student loans don’t really exist. Kids there usually get stuck with crazy high interest personal loans that take forever to get approved. No bueno.
Flexible Loan: How they assist Students facing challenges in accessing Quality Education
EduFi’s founder and CEO Aleena Nadeem wants to shake things up. She saw lots of smart, talented students struggle to afford quality education while working at a nonprofit. Not cool.
So she decided to jump in and help students spend more time learning and less time stressing about money.
Here’s how it works: EduFi partners with universities so students can easily apply for flexible loans right in the app.
The AI reviews the application in a snap, and if approved, cha-ching, the money gets sent straight to the school. No waiting weeks for loans to come through.
EduFi already works with 15 universities and 200,000 students looking to pay for undergrad, master’s or PhD programs.
During beta testing, they analyzed tons of data to optimize their lending model. Now they’re just waiting on an official license from the Pakistan government to start making even more loans.
The Company’s Goal?
The startup thinks their app makes getting a loan way simpler than dealing with traditional banks. No ridiculous interest rates or endless paperwork here!
EduFi plans to use their fresh funding to expand and launch other fintech products like student credit cards.
Their goal is to make education accessible and empower as many aspiring leaders as possible.
So if you’re a student in Pakistan looking to finance your future, check out EduFi.
They’ve got your back!
