Startup
Posted: 2 weeks ago

Edupay Aims to Take Over Georgia's Market and Expand Internationally

 

Edupay is a tuition automation web platform for private educational organizations and taxpayers. The platform offers schools, universities and any other type of schools a program for enrollment management, and an easy way for parents and students to pay their tuition. 

"We conducted a user survey in March 2021. The educational institutions had already called us in May and asked if we had completed the development. During this period, we participated in the Impact Hub acceleration program and were just in the process of refining the idea," says Giorgi Khachidze at MVP. 

Finally, it was time to spend the night's creating a minimum viable product (MVP).

"We did create it, but despite the previous desire of the schools, we ran into bureaucratic processes. Too many questions have arisen, including about privacy policies and receiving bases. All this has delayed the decision-making process on their part. However, we have involved lawyers, personal data inspectors and other relevant people. As a result, we've turned potential users into active users. ''

EduPay has no revenue at this point as its users are in the process of testing the product for free.

"We expect revenue from February, more than we had planned. We have become partners of one of the payment service providers and we can add schools to about 56 payment channels. These include mobile banks, cash registers, etc. This will give us additional income in the form of a commission from each transaction. "

As for the number of customers, it is a total of 13 schools. This number includes both already running and existing facilities in the process of adjusting the bases.

EduPay has participated in two acceleration programs. The first was Impact Hub Tbilisi, and the second was the TBC Apps Competition.

The investment received was pre-seed financing and the company plans to announce a new round by spring 2022.

Startup aims to fully take over the Georgian market and enter the foreign market with the next investment.

"By the end of 2022, we want the platform to be as automated as possible and we will make great efforts in this. Our goal is to be able to onboard more customers in less time," said Giorgi.

According to the founders, by the end of next year, EduPay will be a well-known program in educational institutions operating in Georgia.

That is why, by the end of 2022, EduPay will test the product in several markets and then decide on which of them to start operating.