Zinc, an edu-wealth startup, has raised $25.5 million in its seed funding round led by Nexus Venture Partners. The round also saw participation from Quona Capital, EDBI, Global Ventures, and Saison Capital.
The funds will be used to drive product innovation and expand its offerings. The capital will also be used for the development of global investment tools, AI-powered university counselling, and cross-border payment solutions, all aimed at empowering families to secure their children’s futures.
Prashanth Ranganathan, Founder and CEO of Zinc, said, “At Zinc, we are addressing one of the most pressing challenges faced by Indian families – navigating the rising costs of international education. We are building a future where families no longer have to worry about the complexities of managing cross-border payments and investment products. Our full suite of services is designed to empower Indian parents with the right tools to invest confidently in their children’s education while mitigating the financial pressures associated with studying abroad. We are excited to take the next big step in expanding our offerings, setting new industry standards for cross-border financial solutions.”
Anup Gupta, Managing Director, Nexus Venture Partners, said, “India is emerging as a key geography for students pursuing global education opportunities. Nexus is delighted to partner again with Prashanth and Team Zinc in their vision to support parents and students in realizing their global education goals in a planned and transparent manner with a best-in-class combination of education advisory and financial services platform.”
Founded in April 2024 by Prashanth Ranganathan, a seasoned entrepreneur known for his previous ventures including Truvie Security (acquired by PayPal), SayNow (acquired by Google), and PaySense.
Zinc is an edu-wealth startup dedicated to transforming how Indian families save, invest, and plan for global education.
The company has launched Zinc Honors, a holistic product suite that provides all-in-one support for your child’s education dream. Integrated into this platform is Ada, Zinc’s proprietary AI-powered edu-counselor, which is designed to provide comprehensive support and guidance to young aspirants in India.
The company has obtained approval for the RIA (Registered Investment Advisor) license from SEBI and an in-principle approval for the PSP (Payment Service Provider). Additionally, the company has also applied for a brokerage license from the International Financial Services Centres Authority (IFSCA) in GIFT City.
By enabling families to invest and save in foreign currencies like the USD, Zinc insulates them from rupee depreciation and ensures their savings grow in the currency of ultimate spending. The platform provides global investment tools that diversify savings into international markets, helping parents build robust financial plans to support their children’s education without the risk of currency fluctuations.
