Edu-Wealth Startup Zinc Secures USD 25.5 Mn Seed Funding Led by Nexus Venture Partners The raised funding will drive product innovation, expanding global investment tools, AI-powered university counseling, and cross-border payments to empower families in securing their children's futures effectively.
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Zinc, an edu-wealth startup, has raised USD 25.5 million in seed funding round led by Nexus Venture Partners with additional support from Quona Capital, EDBI, Global Ventures, and Saison Capital.
The raised funding will drive product innovation, expanding global investment tools, AI-powered university counseling, and cross-border payments to empower families in securing their children's futures effectively.
Founded in April 2024 by Prashanth Ranganathan, a seasoned entrepreneur known for his previous ventures including Truvie Security, SayNow, and PaySense, Zinc seeks to redefine how Indian families approach education-related financial planning. Ranganathan's past successes, including the acquisition of Truvie Security by PayPal and SayNow by Google, have positioned him as a key player in fintech, and his experience has deeply influenced Zinc's approach.
Zinc is an edu-wealth startup dedicated to transforming how Indian families save, invest, and plan for global education. At the heart of Zinc's offerings is Zinc Honors, a product suite offering USD-denominated investment options and financial tools specifically aimed at shielding families from rupee depreciation. This unique approach enables parents to grow their savings in foreign currencies, providing a hedge against currency fluctuations and inflation. Through these products, Zinc aims to ensure that families' savings align with the ultimate costs of overseas education.
One of the flagship components of Zinc's product line is Ada, an AI-powered university counseling platform. Ada goes beyond conventional counseling by using AI to provide personalised educational pathways for students while also recommending optimal financial strategies for their families. This guidance helps students and their families navigate the complex landscape of international education, from selecting universities to understanding potential career paths and financial planning.
Prashanth Ranganathan, Founder and CEO of Zinc, said, "At Zinc, we are addressing one of the most significant challenges faced by Indian families—the high costs and financial complexities of international education. We are building a comprehensive platform that not only connects students with the right educational opportunities but also equips families with the necessary financial tools to invest across borders and manage their finances effectively."
With its SEBI-registered RIA (Registered Investment Advisor) status, Zinc is empowered to offer personalised financial advice and secure cross-border payment services. Additionally, the company's application for a brokerage license with the International Financial Services Centres Authority (IFSCA) in GIFT City is another strategic move, enabling the platform to provide tax-efficient, globally focused investment products. Zinc's aim is to be a full-stack cross-border financial services platform, simplifying the investment and savings process for families seeking educational opportunities abroad.
Anup Gupta, Managing Director at Nexus Venture Partners, stated, "India is emerging as a key geography for students pursuing global education. Nexus is delighted to partner with Prashanth and the Zinc team to support Indian families in realising their educational goals with transparency and a best-in-class financial and advisory platform."
The startup's edu-wealth concept emphasises a complete financial planning approach, helping families build a secure foundation for international education by offering tools to invest in diversified, dollar-based assets. By enabling investments in USD and other foreign currencies, Zinc reduces the impact of rupee depreciation, ensuring that families' savings grow in the currency of ultimate spending, aligning with future educational expenses abroad.
Zinc's ambitious vision is set to redefine cross-border financial services for education, making it easier for families to navigate both educational and financial landscapes with confidence.
