LEO1
Mumbai, IN · 10 known investors
Indian edu-fintech, formerly Financepeer, offering fee financing and a 'Financial SAAS' payment card platform to educational institutions.
Also known as Financepeer · LEO 1
Founders & leadership
Investors · 10
Also in the syndicate · 7
Company profile
researched Aug 2026LEO1, formerly known as Financepeer, is a Mumbai-headquartered edu-fintech company founded in 2017 that addresses cash-flow gaps at educational institutions. Its core model pays an institution a student's full annual fees upfront while parents repay in instalments, described on third-party profiles as zero-cost, zero-interest EMIs. The company positions this as a 'Financial SAAS' offering that combines fee collection with incentives for timely payment.
Alongside financing, LEO1 offers a payment card that doubles as a campus smart ID card, supporting tap-and-pay for institute fees, retail and online purchases and ATM withdrawals, as well as access to campus facilities. The platform adds education loans, a rewards mechanism for on-time fee payment, and a financial literacy module. LEO1 states it introduced a numberless prepaid student ID card in partnership with NSDL Payments Bank and Mastercard.
Leadership comprises Rohit Gajbhiye as CEO and founder, Naveesh Reddy as Chief Operating Officer and Debi Prasad Baral as Chief Technology Officer; a company profile also lists Sunit Shyam Gajbhiye as co-founder and CBO. Gajbhiye is described as an IIT Bombay and Stanford Ignite alumnus named to the Forbes 30 Under 30 Asia Finance & Venture Capital list for 2020.
Founding story
Founded in 2017 by an IIT/IIM alumni team; CEO Rohit Gajbhiye has said publicly that the startup began in 2017-18 with the goal of tackling irregular fee cash flow in the education sector and making education more accessible.
Business model
LEO1 works with educational institutions, disbursing students' annual fees upfront to the institution and collecting repayment from parents in instalments, layered with a card-based payments and campus ID product sold as a subscription-style 'Financial SAAS' platform.
Third-party company profile lists revenue streams as commission on transactions, interest and lending.
Traction
Reports partnerships with more than 31 groups of institutions and over 0.5 million students reached across India; staff counts are listed in third-party profiles in the 151-500 range.
Latest developments
In June 2024, LEO1 announced an undisclosed strategic investment from Indian cricket captain Rohit Sharma, with participation from Ardent Ventures, DMI Sparkle Fund, DMI, 9Unicorns, LC Nueva AIF and Maxar VC — reported as Sharma's first fintech investment.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Positions itself as an edu-fintech player in India's education fee-financing segment; described as Google-incubated and a finalist for IFTA 2024's Most Innovative Fintech Product.
Combines institutional fee financing with a student payment/ID card and a rewards mechanism intended to incentivise timely fee payment, alongside financial literacy content.
Technology
A financial SaaS platform for fee collection and disbursal, coupled with a prepaid student card — described as India's first numberless prepaid student ID card, issued with NSDL Payments Bank and Mastercard — that functions as both a payment instrument and campus access ID, plus data analytics, education loans, rewards and financial literacy modules.
Go-to-market
Partners directly with groups of educational institutions, which then extend the fee-financing and card offering to their students and parents.
Educational institutions in India and the parents and students associated with them; the company reports partnerships with 31+ groups of institutions and reach across more than 0.5 million students.
Geography
Headquartered in Mumbai, Maharashtra, India, with institutional partnerships across India.
History
Founded in 2017 under the name Financepeer, the company later rebranded as LEO1. It says it raised $35 million across two investment rounds over roughly three years to mid-2024, and in June 2024 announced a strategic investment from cricketer Rohit Sharma.
Compiled by commissioned research from 6 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 4
launches, deals, and filingsIndian cricket captain Rohit Sharma made a strategic investment of an undisclosed amount in LEO1, reported as his first investment in a fintech startup; Ardent Ventures, DMI Sparkle Fund, DMI, 9Unicorns, LC Nueva AIF and Maxar VC also participated.
Launched a combined product providing a payment card that also serves as a campus smart ID, enabling fee payments, retail and online transactions and ATM withdrawals, with rewards for timely fee payment.
LEO1 introduced what it describes as India's first numberless prepaid student ID card, in partnership with NSDL Payments Bank and Mastercard, as part of its financial SaaS offering.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 6
primary sources listed
- About Us - LEO 1 | Pay fees and get rewardedleo1.in · web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does LEO1 do?
- Indian edu-fintech, formerly Financepeer, offering fee financing and a 'Financial SAAS' payment card platform to educational institutions.
- Who founded LEO1?
- LEO1 was founded by Debi Prasad Baral, Naveesh Reddy.
- Who are LEO1's investors?
- LEO1's investors include Ardent Venture, JITO Angel Network, QED Investors.
- Where is LEO1 headquartered?
- LEO1 is headquartered in Mumbai, IN.