Total amount raised
$18.8 Million
Latest funding date
8/1/2022
Location
Jodo has successfully raised funding over two rounds, with the latest being a Series A round involving investors such as Tiger Global Management and Elevation Capital. The fintech company focuses on creating customized financial products for middle-income households in urban India.
Keep reading to explore the intricacies of Jodo's fundraising journey and the investors backing this innovative platform.
What Is Jodo?
Jodo is a mission-oriented fintech company based in Bangalore, Karnataka, India. The company focuses on creating customized financial products for middle-income households in urban India and automating fee collection processes for educational institutions.
Founded in an unspecified year, Jodo operates in the Financial Services and FinTech industries. The company has a workforce of 101-250 employees and is trusted by over 3000 institutes and 20 lakh+ parents and students.
How Much Funding Has Jodo Raised?
- Seed Round
- Amount Raised: USD 3,800,000
- Date: July 2020
- Lead Investors: Elevation Capital, Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to develop and launch specialized payment and lending products aimed at making fee payments convenient and affordable for parents and hassle-free for educational institutes.
- Series A Round
- Amount Raised: USD 15,000,000
- Date: August 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: USD 90,000,000
- Motivation Behind the Round: To accelerate product innovation, increase sales, expand the team, and scale up partnerships with educational institutions.
Jodo has raised a total of USD 18,800,000 with a current valuation of USD 90,000,000.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors. The firm has been very active in early-stage and Series A investments in India.
- Investment Focus Areas: Internet, software, consumer, financial technology sectors.
- Notable Investments: Flipkart, Stripe, ByteDance (TikTok), LinkedIn.
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage and growth-stage companies, primarily in India. The firm has been investing in India since 2002 and has deployed almost $2 billion in over 150 companies.
- Investment Focus Areas: Technology, consumer sectors, fintech, SaaS, healthcare.
- Notable Investments: Paytm, Swiggy, UrbanClap, Meesho, Unacademy.
- Matrix Partners India
- Details: Matrix Partners India is a venture capital firm that invests in early-stage companies across various sectors in India. Founded in 2006, the firm targets the Indian consumer and enterprise market.
- Investment Focus Areas: Consumer technology, B2B, fintech, healthcare.
- Notable Investments: Ola, Practo, Dailyhunt, Razorpay, Licious.
- Z47
- Details: Z47 is one of the investors in Jodo's seed round. Specific details about the firm are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Jodo?
Jodo's future is brimming with opportunities. The company plans to scale its partnerships from 700 to 5,000 educational institutions, aiming to help 1.5 million students with their fee payments. This expansion is set against a backdrop of increasing digitization in the education sector, which presents a significant growth avenue.
Given the successful Series A funding round, Jodo is well-positioned for future fundraising to support its ambitious goals. The company may also explore strategic acquisitions to enhance its technology stack and market reach. However, challenges such as managing rapid growth, ensuring seamless integration with educational institutions, and navigating regulatory requirements could pose hurdles along the way.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Jodo and gather other critical business insights. Sign up for free to start unlocking valuable information today.
