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Last Updated : Dec 03, 2018 02:52 PM IST | Source: Moneycontrol.com

Ed-tech firm OnFees gets Rs 50 crore worth of transactions by 1 lakh students

The firm simplifies the admission process for schools and colleges across multiple courses and provides assistance for their revenue management and administration needs.

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Over 100 colleges and one lakh students have been digitally enabled through ed-tech startup OnFees, it said on November 3, adding that transactions worth Rs 50 crore have been done so far on the platform.

Founded 17 months ago by Mayur Jain, Viral Dedhiya and Manisha Thakur, The 70-member strong firm simplifies the admission process for schools and colleges across Mumbai and Pune for multiple courses, and provides assistance for their revenue management and administration needs.

Institutes mostly use them for cost efficiency, resource optimisation, transparency, to avoid revenue leakages, gain access to a larger student base for admission forms and in getting the necessary accreditation needed from various regulatory bodies.

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Top colleges like Ramnarain Ruia College, St. Andrews College, R. A. Podar College, Siddharth College, D.Y.Patil Ayurvedic College, among others, use the platform.

“Our solutions are scalable both horizontally and vertically and can be custom-tailored designed to satisfy the needs of educational institutions of all sizes, with mechanisms designed to ensure compliance with not just the needs of today but also those arising in the coming years,” said Jain.

According to the company, a majority of the parents prefer debit cards to pay their fees even though net banking and UPI have the lowest convenience fee. Interestingly, students enrolling at institutes with relatively higher fee amount are also opting for EMI option available on the portal.

OnFees plans its expansion in other cities and is looking to raise institutional funding. It has appointed Felix advisory as its investment advisor.

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First Published on Dec 3, 2018 02:49 pm
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