LEO1, an edu-fintech company supported by Rohit Sharma, has reimbursed Rs 8 crore in education fee benefits through its Fee Reimbursement Model (FRM) in 2024. The model rewards parents and students for making timely and advanced tuition fee payments with LEO1 Coins, redeemable across 200+ merchant partners, covering sectors such as travel, accommodation, ride-hailing, food, groceries, and shopping platforms.
In addition, ?1.7 crore worth of LEO1 Coins were credited to parents and students for app purchases, enhancing the overall value received. Over 55,000 students have redeemed 50 lakh Coins, spending them on items like power banks, AirPods, smartwatches, air coolers, snacks, and more. In January alone, around 20 lakh Coins were used, showcasing the growing adoption of the reimbursement model.
As part of its Prime Membership, LEO1 also offers exclusive benefits, including free consultations to help parents and students make informed educational and financial decisions, further adding to its value proposition.
The model is helping to build an ecosystem that benefits educational institutions by streamlining fee collections and reducing the financial burden on parents. It ensures that education expenses create value, benefiting students and families alike.
The impact has been significant, with major educational groups in India reporting improvements in on-time tuition fee payments. This has enabled institutions to expand, scale, and introduce new courses and initiatives.
Rohit Gajbhiye, MD & Founder of LEO1, said: "We are privileged to build an ecosystem that transforms expenses at the time of education into a rewarding experience for students and parents. The Fee Reimbursement Model is not just about timely fee payments—it is about creating long-term financial value in education. By incentivizing responsible financial behaviour, we ensure that every rupee spent on education delivers tangible benefits. Our model has helped students while addressing cash flow challenges for universities. We plan to expand to 22 cities, aiming to impact 2.5 million students and establish education payments as a financially empowering process for families across India."
LEO1 remains committed to building a sustainable and inclusive financial ecosystem for students, parents, and educational institutions. The Fee Reimbursement Model also features a numberless prepaid student ID, which doubles as a contactless payment card, functioning both as an identity and a payment gateway. Leading university groups such as Narayana, SAGE, Jain, LNCT, and Geetanjali University are part of LEO1's reimbursement model, which has made a positive impact on students, parents, and the broader educational community.
