LEO1, an edu-fintech company backed by cricketer Rohit Sharma, has distributed ₹8 crore in education fee benefits through its Fee Reimbursement Model (FRM) during the 2024-25 calendar year. The program rewards timely and advance tuition payments with LEO1 Coins redeemable across over 200 merchant partners.
An additional ₹1.7 crore worth of LEO1 Coins were credited for in-app purchases. More than 55,000 students have redeemed 50 lakh Coins for items ranging from electronics to snacks, with approximately 20 lakh Coins used in January alone.
The company’s Prime Membership includes free consultations to help families make informed educational and financial decisions.
According to Rohit Gajbhiye, MD & Founder of LEO1, the model creates long-term financial value in education while addressing cash flow challenges for universities. The program has reportedly improved on-time payments for several major educational institutions in India.
LEO1’s system includes a numberless prepaid student ID that functions as a contactless payment card. Partner institutions include Narayana, SAGE, Jain, LNCT, and Geetanjali University.
The company plans to expand to 22 cities with the goal of impacting 1.5 million students across India.