Zinc Money

About Zinc Money

Zinc Money, established in 2024 by co-founders Prashanth Ranganathan and Piyush Gupta, operates at the intersection of wealth technology and educational advisory. The firm is headquartered in Singapore with significant operations based in Mumbai, India, and GIFT City. The company's creation was driven by CEO Prashanth Ranganathan's mission to address the financial complexities Indian families face when planning for their children's overseas education, a vision he pursued after stepping down as CEO of PayU Finance in 2023. Ranganathan is a serial entrepreneur, having previously founded Truvie Security (acquired by PayPal) and co-founded SayNow (acquired by Google) and PaySense (acquired by PayU).

Zinc Money is developing a comprehensive platform designed to assist families in planning and financing international education. The core of its business is to provide tools and advice that help parents build a financial foundation tailored to the rising costs of studying abroad. The company targets Indian families, particularly in tier 2 and tier 3 cities, who aspire to provide their children with a global education. Its business model combines financial services with AI-powered educational counseling. Revenue is anticipated to be generated from wealth management services, cross-border payments, and eventual lending products.

The company's service suite is structured around a concept termed "Edu-wealth". A key offering is a goal-based investment and wealth management solution that allows parents to invest in a dollar-denominated corpus, mitigating risks associated with currency fluctuations. This is complemented by 'Ada,' an AI-powered counselor that guides students in selecting suitable universities. The platform also aims to facilitate international remittances and will feature a multi-currency account for holding global currencies like USD. To support these services, Zinc Money has secured a Registered Investment Advisor (RIA) license from SEBI and an in-principle Payment Service Provider (PSP) license from the IFSCA, with plans to acquire a brokerage license as well. In October 2024, the company announced a significant seed funding round of $25.5 million, led by Nexus Venture Partners, to be used for product development, securing financial licenses, and expanding its offerings.