India-based Zinc founded by PaySense cofounder and former PayU Credit CEO Prashanth Ranganathan has secured $25.5 Mn (about INR 214 Cr) in a seed funding round led by Nexus Venture Partners with participation from Quona Capital, EDBI, Global Ventures, and Saison Capital.
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The Singapore-headquartered company intends to use the funds to drive product innovation, expand its offerings, and obtain key financial licenses to assist families in saving and investing for their children’s global education.
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Zinc and Singapore-based wealth management company Leo Wealth have co-founded a wealth fund that will launch in November. He previously cofounded Truvie Security Inc., which was acquired by PayPal, a cross-border payment giant, in 2011. Ranganathan went on to work at PayPal for four years.
“I left PayU and took a little bit of time to understand the space around foreign education. I realised that there is a huge latent demand among people who are looking to send their kids overseas for education, not for any other reason but (because) they find it very competitive in the domestic market. I noticed that most parents have the aspiration of wanting to send their kids overseas and having them educated on the global stage,” Ranganathan, the founder and CEO of Zinc, said.
“India is emerging as a key geography for students pursuing global education opportunities. Nexus is delighted to partner again with Prashanth and Team Zinc in their vision to support parents and students in realising their global education goals in a planned and transparent manner with a best-in-class combination of education advisory and financial services platform,” Anup Gupta, managing director, Nexus Venture Partners, said.
The startup has launched a product suite called ‘Zinc Honors’, which uses Zinc’s AI-powered edu-counselor ‘Ada’ to advise aspiring students on studying abroad.
Zinc claims to have obtained a Registered Investment Advisor (RIA) license from the Securities and Exchange Board of India and received in-principle approval to operate as a payment service provider.
The startup stated that it has also applied for a brokerage license from the International Financial Services Centres Authority (IFSCA) in GIFT City.
“These licenses empower Zinc to offer personalized investment advice, secure cross-border payment services, and access to global markets, all within a tax-efficient framework,” according to the statement.
Zinc aims to be a “full-stack cross-border financial services platform for Indian families” by offering them a suite.
About Zinc
Founded in 2024, Zinc brings you smart financial planning that grows with your child’s aspirations. Zinc is driven by one simple, powerful mission—to protect the future of our most precious asset: children and their education.
It believes that with the planning and resources, families can unlock boundless opportunities for their children, bridging the gap between aspiration and access. Zinc ensures that your child’s future is as limitless as their potential and empowers families with the knowledge they need to navigate the path to success.
