Post the lockdown scores of students all across the country had to drop out of schools as many parents could have paid for their school fee. Aggrieved by this, a trio from Hyderabad, Telangana, Satish Vangala, Vinod Boinpally, and Bharat S Krishnan have developed an app that helps parents pay their ward’s school fee through installments.
Before starting this app, Bharath was already working in Ola Company, and two of his friends, Satish and Vinod, came up with the idea.
The app called feePad, also helps students to study online and provides online study material. Speaking to News18, co-founder and CEO Bharat S Krishnan said that FeePad has currently more than 130,000 active users and more than 100 educational institutions with a network of banks in Andhra Pradesh, Telangana, and Tamil Nadu.
Explaining how the app works, the co-founder said that the company has tied up with multiple finance companies, who offer loans to parents through with they can pay their children’s fees. After paying the fees through the bank, parents can repay the amount to the banks in monthly installments.
“At present several finance companies give loans to people to even purchase a phone, then why should there be loan options to meet the basic need of students. This is how we started this startup. At present, our company is typing with top finance companies and offering the facility for students and parents to pay their child fees in easy installments, ” said Bharat S Krishnan.
Three years ago, the company started with an investment of Rs 1 crore. The founders of the company claim that the app is getting a good response from both educational institutions and parents. One of the founders of the company claims that as of now they are providing the app free to all educational institutions.
The app also has the facility to track the student’s reading. Institutions can easily manage student fee management and other day-to-day activities through fee-based software. And the software is designed to provide educational institutions free of cost.
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