Zinc, a forward-thinking edu-wealth startup led by former PayU Finance India CEO Prashanth Ranganathan, has successfully closed a $25.5 million seed funding round.
This significant financial backing was led by Nexus Venture Partners, with additional participation from Quona Capital, EDBI, Global Ventures, and Credit Saison. The funding will propel Zinc’s product development and expansion of its unique offerings, focusing on global investment solutions, AI-driven university counseling, and cross-border payment services, all designed to help families prepare financially for their children’s educational aspirations.
Ranganathan’s latest venture is strategically positioned to address the soaring costs associated with overseas education. Zinc’s edu-counselor platform, Ada, leverages artificial intelligence to offer comprehensive, tailored guidance to young Indian students and their families as they navigate complex academic and financial planning. This platform is a response to the increasing demand for accessible and robust support systems that help families overcome financial barriers in education.
Through its global investment tools, Zinc enables parents to diversify their savings by investing in international markets, reducing the risks associated with currency fluctuations. This unique approach allows families to build a stable financial plan, ensuring they are well-prepared for the financial demands of overseas education. To reinforce its services, Zinc has secured a Registered Investment Advisor (RIA) license from SEBI, along with preliminary approval for a Payment Service Provider (PSP) license, with a brokerage license application pending with the International Financial Services Centres Authority (IFSCA) in GIFT City.
Prashanth Ranganathan is no stranger to the startup landscape; his prior venture, Paysense, was acquired by PayU in 2020, marking his position among a growing group of seasoned founders who have raised substantial seed funding in 2024. Zinc joins other high-profile startups, such as Avail, Mukesh Bansal’s Lyskraft, and generative AI ventures EMA and Nesya, which have all raised significant amounts at this early stage, highlighting the robust interest in tech-driven finance and educational platforms this year.
With its innovative approach to edu-wealth, Zinc is poised to reshape the way families in India and beyond plan and secure their children’s educational futures. The company’s success underscores the increasing investor interest in financial technology solutions tailored to global education challenges
