Skilling platform FinX has raised $6 million in a funding round led by early growth stage investment firm Elevar Equity.The funds will be used to expand its geographical reach, increase its product offerings and diversify into IT training.

Founded in 2019, the edtech platform offers vocational courses in the banking, financial services, and insurance (BFSI) domain to help students become job-ready. It currently has a team of over 80 associates and a network of more than 1,000 freelance trainers.

It has partnered with universities and colleges to offer finance-focused vocational courses and joint undergraduate and postgraduate degree programmes along with placements.

“We are trying to bridge the employability gap, make students job-ready, and offer job opportunities specifically focused on students from tier II and tier III cities. By shifting the focus of education toward practical skills, our goal is to enable graduates to become industry-ready professionals,” founder and chief executive Himanshu Vyapak told ET.

The company, which focused on the financial services sector until now, is aiming to expand into the IT industry.

“There are two knowledge-based and large sectors in the country. One is the banking and financial services sector, which contributes almost 13-14% of the GDP, and the other large sector is IT services. Both of these sectors are the biggest employers in the country and have been growing steadily. While we continue to build on our strengths in the financial services sector, we will also expand into IT, including Global Capability Centres (GCCs),” Vyapak said. The funds will also be used for strategic acquisitions of skilling and training firms in the finance and technology sectors. It previously acquired the Centre for Investment Education and Learning (CIEL) in 2019, which focuses on upskilling employees.

Commenting on the investment, Sandeep Farias, founder and managing partner, Elevar Equity, said, “Education is not just an individual aspiration for underserved entrepreneurial households, it directly impacts their employability, the economic well-being of their families, and their ability to climb the social ladder. We are thrilled to back FinX in its mission to enhance employability and drive economic empowerment for entrepreneurial households.”

Skilling platform FinX has raised $6 million in a funding round led by early growth stage investment firm Elevar Equity.The funds will be used to expand its geographical reach, increase its product offerings and diversify into IT training.

Founded in 2019, the edtech platform offers vocational courses in the banking, financial services, and insurance (BFSI) domain to help students become job-ready. It currently has a team of over 80 associates and a network of more than 1,000 freelance trainers.

It has partnered with universities and colleges to offer finance-focused vocational courses and joint undergraduate and postgraduate degree programmes along with placements.

“We are trying to bridge the employability gap, make students job-ready, and offer job opportunities specifically focused on students from tier II and tier III cities. By shifting the focus of education toward practical skills, our goal is to enable graduates to become industry-ready professionals,” founder and chief executive Himanshu Vyapak told ET.

The company, which focused on the financial services sector until now, is aiming to expand into the IT industry.

“There are two knowledge-based and large sectors in the country. One is the banking and financial services sector, which contributes almost 13-14% of the GDP, and the other large sector is IT services. Both of these sectors are the biggest employers in the country and have been growing steadily. While we continue to build on our strengths in the financial services sector, we will also expand into IT, including Global Capability Centres (GCCs),” Vyapak said. The funds will also be used for strategic acquisitions of skilling and training firms in the finance and technology sectors. It previously acquired the Centre for Investment Education and Learning (CIEL) in 2019, which focuses on upskilling employees.

Commenting on the investment, Sandeep Farias, founder and managing partner, Elevar Equity, said, “Education is not just an individual aspiration for underserved entrepreneurial households, it directly impacts their employability, the economic well-being of their families, and their ability to climb the social ladder. We are thrilled to back FinX in its mission to enhance employability and drive economic empowerment for entrepreneurial households.”