Rootopia secures $1 million in pre-seed money

Rootopia is a fintech platform that supports students in continuing their education by solving their school tuition and fee issues. The platform helps to connect angel investors quickly and intuitively with parents who need funds for their children’s school fees.

Each case goes through strict appraisal to ensure that the loan will be granted to the right person and that the borrower can repay the loan, and since loaned tuition fees are paid directly to schools, the platform ensures that the money will be put to good use.

Since its launch more than a year ago, the platform has connected many students with angel investors to help them pursue their studies at more than 100 schools and educational centres in 10 provinces and cities in Vietnam. 70 per cent of parents are mothers and female students. Rootopia and the angels' support has helped many students achieve their best academic results.

The overview of the education market in Vietnam also gives Rootopia a lot of room for growth. Vietnam is a country where families show strong support for their children's education, often spending almost half of their income on it.

Secondly, in terms of school status, universities tend to lean towards increasing autonomy and reducing dependence on the state budget, resulting in tuition fees that can increase by up to 10 per cent per year. In addition to the current high consumer prices, the expenditure for a student is increasing, so some families are looking for financial assistance.

With the funding, Rootopia plans to continue its strategy of experimenting and growing its early user base to reach a product-market fit, as well as developing the foundation of the technology platform to guarantee safety, security, and operational efficiency to serve more students and ensure a better future through education.

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