Jodo, which offers financial products to middle-income households in urban India, has reportedly bagged RS 28.5 crore ($3.8m) in seed funding.
Investment capital came from Matrix Venture Partners, SAIF Partners and a group of 15 angel investors, according to a report from entrackr.
The price of the shares were RS 69,562 ($929), and its valuation is estimated to be RS 107 crore ($142m), the article claims.
Matrix Venture Partners and SAIF Partners both invested RS 13.9 crore ($1.8m) into Jodo, giving them each a 13% stake in the FinTech.
Jodo helps families to pay school fees monthly to help reduce the financial burden they pose. Users can establish auto-debit for repayments and 0%-interest on payments.
Earlier in the year, Matrix Partners supported the $20m funding round of mobile payments solution QFPay.
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