LEO1, an edu-fintech company headquartered in Mumbai, is transforming the financial health of Indian educational institutions through its Financial SaaS platform by addressing the issue of irregular cash flow. The software streamlines the fee collection, management, and tracking processes, allowing institutions to focus on providing quality education by reducing administrative effort.
Rohit Gajbhiye, Chief Executive Officer & Founder of LEO1, remarked, “We aim to
instill a crucial discipline within the education sector. Irregular cash flow often leads to excessive efforts focused solely on fee recovery over other important developments. This is an ancient problem for institutes across the country. Parallelly, given that education constitutes a significant portion—15-20%—of household earnings, parents and students lack sufficient motivation to make timely payments. LEO1 addresses these challenges through our ‘Financial SAAS’ model that motivates responsible financial behaviour in them.”
More than 31 large institutions, including IIHMR, Arya College of Engineering, JECRC, Poornima University, Narayana, Jain Group, and SAGE University, are part of LEO1’s SaaS network, which continues to expand. The platform offers fee management, smart ID cards, financial literacy, and reward modules for students.
The software supports the Digital India initiative through its digital campus module, allowing students to manage all their expenses via the app. The incentivizing module promotes responsible financial behavior among lakhs of students across India.
LEO1’s app offers India’s first pre-paid card for students, which can be used for attendance,
fee payments, canteen purchases, library fees, and more. The card is accepted by 175 online brand partners, including Zomato, Nykaa, Croma, and Myntra. Students also earn reward points on every transaction, which can be redeemed at various merchant outlets.