Capitalization of social mobility in India: Venture capital in edtech-fintech combines

Abstract

Among the foremost scandals surrounding Indian start-ups has been the defrauding of students by loan schemes embedded into edtech platforms. This paper identifies the over-reliance of edtech business models on short-term venture capital as a determining factor in their aggressive blitz-scaling and monetization strategies. The logics of venture capital in India thereby determine an unstable mode of platform capitalism primarily driven by predatory leverage. This dynamic was particularly evident in the rapid rise and demise of edtech-fintech combines seeking to exploit the increasing shortfall in meeting tertiary education demand. In this instance, I argue that the over-reliance on venture capital is compounded by a deeper crisis of social mobility, where the hollowing out of public education is intended to impel its assetization and financialization. © 2026 Informa UK Limited, trading as Taylor & Francis Group.