Flinto raises Rs.60 mn to drive expansion
Educational start-up Flinto Learning Solutions Private Limited, aimed at activity-based learning for kids, has bagged Rs. 60 million from venture debt firm, InnoVen Capital and specialty lending firm.
Flinto is planning to expand its domestic presence, as well as venture into international markets such as Southeast Asia and the Middle East.
InnoVen Capital, is directing its investments aims to strengthen its focus on the burgeoning education sector, particularly the emerging early education segment.
The company's flagship activity box - Flintobox- has seen rapid growth since its inception in 2013. It is currently present in over 700 cities and caters to children in the age group of 2-12 years. The company recently expanded into the unorganised pre-school segment through its enterprise offering, 'FlintoClass', which provides everything needed to run a preschool.
"Having built a subscription business on solid unit economics that gives us optimal cash flow, debt investment makes a huge impact in scaling business rapidly. We're excited to partner with InnoVen for its aspiration and capability to support entrepreneurs to build large businesses in India and abroad," said Arunprasad Durairaj, CEO and Co-founder at Flintobox.
In the past, Flinto Learning Solutions had secured equity capital of USD 8.6 million from various investors such as Lightbox, Globevestor, and Ashwin Chadha, a venture capitalist.