← State of Embedded Finance 2026

EduFi

Can a fintech company unlock higher-education access in Pakistan by embedding an AI-driven credit-scoring layer between students and banks, originating and servicing study-fee installment loans at scale?

HQPakistan
Total raised$6.1M
Latest roundSeed, 2023
IndustryFintech / Lending
The story

EduFi was founded in Pakistan to address higher-education affordability through a 'Study Now, Pay Later' (SNPL) model — essentially Islamic Ijarah-based installment financing for university fees. The company positions itself as both a consumer-facing lending app and a B2B infrastructure layer, offering banks and liquidity providers access to its proprietary education-sector credit-scoring engine via a portal. The embedded finance angle is that EduFi acts as an originator and servicer routing loan disbursements directly to universities while banks provide the underlying capital.

Last 12 months
2023
Product timeline
2023
EduFi secured $6.1M seed funding led by Zayn VC to launch its Study Now, Pay Later (SNPL) student loan product in Pakistan.· lending
2023
Launched SNPL mobile app enabling students to apply for fee financing paid directly to universities in monthly installments at 1.5% per month service charge.· lending
2024
Launched EduFi liquidity portal for partner banks and financial institutions, featuring AI-based credit scoring model focused on the education sector.· banking
The stack
Banking / BaaS
Synctera
Lending
Study Now Pay Later (SNPL)University fee installment financing (Islamic Ijarah)
Accounting gap: none