NV Subramanian, founder of Payed, says that education is very important. We started this so that no one should put pressure on the parents to pay the fees of the children.
Middle class parents target- Payed’s target audience is middle class parents. Payed provides loans to parents to pay the child’s school, college or coaching fees. The biggest USP of Payed is its nominal charges.
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How to apply- Any parent can easily take a loan from Payed through the app or website. No hassle of going to the bank, no need to deposit cash or collateral. Simply the applicant has to fulfill certain standard requirements.
Rs 100 crore received from RBL- Payed has received Rs 100 crore from RBL as a credit line. At the same time, NV Subramanian has invested 40 lakh rupees as a founder. The focus of the company is on rapidly increasing the customer base.
According to the report of India Brand Equity Foundation, the education sector of the country will be worth about $ 101 billion by the end of 2019. In such a situation, startups like Payed are benefiting parents along with them.
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Tags: business news in hindi, college education, Education Budget, Modern Education, Startup Ideas