New Delhi, June 15, 2020: Financepeer, the Forbes acclaimed and Google incubated finance company for schools announced their partnership with India’s leading Knowledge Network for School Leaders- IPN (Indian Principals' Network) in order to expand their accessibility to the schools across the country. Through this partnership, the fee financing company will provide a platform to the school fraternity which would help them in resolving the financial woes amid this crisis.
Financepeer and IPN have joined hands to provide financial assistance to the network of schools associated with IPN by facilitating 100% of the collection of school fee.
The past few months have brought utmost challenges for the school leaders. With virtual being the new normal, schools are investing more and more on the technology equipment. However, schools are facing the financial troubles in doing so. While on the other side of the table, the life of middle class has also been affected drastically in these indefinite times with many living hands to mouth in the crucial times, unable to afford school fee for their kids.
Financepeer will financially help the IPN Leaders and the Schools associated, by providing them with the assistance of 100% collection of the school fees with no working capital issues. Their model includes paying of the entire annual School Fees in one instalment to the Schools and in turn, collecting the School Fees from the parents in 9/12 instalments by providing them with the options of Zero Cost EMI along with collateral free zero percent interest loans for education. The deal will be enforced on 15th of June 2020.
Talking about this partnership, Financepeer Founder and CEO, Mr Rohit Gajbhiye said, “The education engine needs the necessary lubricant to function smoothly post this pandemic which has unsettled the ecosystem. Both parents and schools have challenges of the inflow of funds and this has resulted in the immobilization of funds”.
Financepeer model acts as a catalyst for both the schools and the parents and allows movement of funds without putting additional burden on them. With the association with IPN we aim to expand our reach to these stakeholders so that we can march towards our vision of making quality education accessible to all. It will not only facilitate them but will eventually help the industry withstand the storms, he added.
Indian Principals’ Network (IPN) have always put the efforts and taken initiatives for the welfare of the education ecosystem and plays a critical role to ensure that the IPN Leaders are always ready to fight the battles in the education front.
Sharing his views on the partnership, Mr. Gaurava Yadav, Founder & Moderator, IPN India said, “These are challenging times for all of us specially for private/unaided schools India, while at IPN India we work closely with schooling system of India, I can assure all of us that our teachers/schools have worked 200% more than what was expected of them, and given 43% Indian school going kids are from private schools with no external financial stimulus or support in these times. Non or partial payment of fees to schools have put a major question mark on the survival of private/unaided schools across the country. I believe, we at IPN India and Financepeer through this partnership would like to help schools in which-ever way possible we can.”