OnFees.com, education technology start-up, is planning to expand in multiple cities across India. The startup has begun approaching venture capital and private equity funds for the next round of funding.
The company offers a digital fee management platform to educational institutions and their students. OnFees.com is already serving more than 100 schools and colleges with its 70-member team in Mumbai and Pune.
The company said, "By the middle of the 2018-19 academic session, transactions worth Rs 50 crore from over one lakh students have been processed through the OnFees platform."
While aiming to tap the huge market across India, the company is now planning expansion in other cities.
Mayur Jain, CEO of OnFees, said, "Students are keen on digital technologies and cashless transactions, while principals and staff of educational institutions have also wholeheartedly supported the OnFees-NPCI initiative and have expressed strong interest in onboarding to drive efficiency and transparency through technology."
"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," Jain added.
