Digital learning startup LearnApp raises seed funding from fintech incubator – VCCircle
LearnApp, a digital learning platform owned by Noida-based PS Market Scientist Pvt. Ltd, has raised Rs 2 crore ($281,000 at current exchange rates) in a seed round from fintech startup incubator Rainmatter, the company said in a statement. Rainmatter, which also has a fund, is run by stockbroking firm Zerodha.
Founded in August this year by Prateek Singh, Ankush Oberoi, Swati Sharma and Sohail Alam, LearnApp offers subscription-based executive education programmes that users can stream online. The platform aims to equip professionals with new age skills through video courses by industry leaders, live interactive classes and assessment analytics. The company claims that it already has more than 3,600 subscribers and aims to grow to 10,000 users in the next four months.
Singh, who is LearnApp’s chief executive, told TechCircle that the company will use the capital to produce films and improve its back-end technology.
Zerodha chief executive Nithin Kamath said in a statement, “We see the potential for LearnApp to define how people upskill themselves in finance, business management and technology.”
Some of the programmes on the platform include investing in mutual funds, trading, venture capital, capital markets and so on. The company plans to soon expand course offerings to business management and technology. The platform currently has 25 courses that have been produced with the help of executives of financial companies and fund houses.
Singh claims that LearnApp gets 600 new users every month and introduces one new course every week. It also plans to launch its upcoming courses in Hindi.
Bengaluru-based Rainmatter, which was founded by Kamath in 2015, is a startup incubator that provides workspaces, mentorship and funding to fintech and technology startups. In August this year, one of its portfolio companies Balance Technology was acquired by One97 Communications, the parent of digital payments company Paytm. In January, Rainmatter had invested Rs 2.25 crore ($354,600 then) in algorithmic trading platform Streak.