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Study abroad platform, LeverageEdu, has raised $40 million in Series C funding led by Princeton-based Language Testing conglomerate ETS, according to sources.
The valuation is said to be about $150 million, a 35-40 per cent up-round to its Series B last year. Existing investors, Blume Ventures, DSG Consumer Partners, and Kaizenvest PE have also participated in the round.
The company aims to recruit about 250 people. It currently employs over 1,000 employees. Founded in April 2017 by Akshay Chaturvedi, LeverageEdu is a Global Study Abroad Platform that helps students from India, Nigeria, Nepal, and other emerging countries land higher education opportunities abroad.
Also read: Edtech start-up Interval secures ₹2.25-crore angel funding
LeverageEdu was last reported to be closing FY23 at a revenue of ₹100 - 110 crore. LeverageEdu’s Financial arm, Fly Finance was last reported in September 2022 to be closing in on having facilitated loans worth ₹280 crore and having done ₹135 crore GTV in their forex business.
The company did not comment on the development. LeverageEdu is said to be enrolling more than 6,000 students every month and offers counselling, application support, college admissions, education loans, international money transfer, and student accommodation.
Also read: Loans to study abroad, students who went overseas, at an all-time high
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