Leverage Edu Raises $40 Million in Series C Funding, Bolstering India's Edtech Landscape
In a challenging landscape where many edtech startups are grappling with financial struggles and a slowdown in expansion plans, Indian study abroad platform Leverage Edu has emerged as a remarkable success story. Recently, the company secured $40 million in a Series C funding round, comprising $25 million in equity and $15 million in debt, showcasing its ability to attract substantial investment even during a funding winter.
During the period between April 2022 and March 2023, the edtech sector witnessed a significant decline in funding, with only $1.33 billion raised compared to $6.22 billion the previous year, according to private market data company Tracxn. However, Leverage Edu has defied this trend by securing a substantial amount of funding.
With this latest funding, Leverage Edu's valuation has skyrocketed to approximately $150 million, representing an impressive 35-40% increase from its $120 million valuation during the Series B round, which raised $22 million last year. The company has now raised a total of around $70 million, combining equity and debt investments.
Leverage Edu's success can be attributed to its strong partnerships, as the platform has received offers for over 20,000 students through its network of 650+ university partners. The majority of Leverage's student base is drawn to the UK, followed by Canada and the U.S., with students from countries like India, Nigeria, and Nepal also benefitting from its services.
Educational Testing Service (ETS) led the Series C investment, which included existing investors such as Blume Ventures, DSG Consumer Partners, and Kaizenvest PE. This achievement marks Leverage Edu's significant fundraising effort in 2023, further cementing its position in the edtech sector.
Leverage Edu, founded in 2017 by Akshay Chaturvedi, provides a full variety of services to students seeking overseas education. Its offerings include counseling, application-admission support, assistance in securing education loans through non-banking financial companies (NBFCs) such as HDFC Credilla and Avanse, as well as support for money transfers abroad, accommodations, and visa applications. With its robust platform and strategic partnerships, Leverage Edu is transforming the study abroad experience for students across India.
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