Leverage Edu, the distinguished platform aiding students in international education pursuits, recently confirmed its successful Series C funding, amassing $40 million. This substantial financial infusion, a combination of debt and equity, was primarily championed by the Educational Testing Service (ETS).
Fintrackr’s meticulous scrutiny of regulatory filings reveals that Leverage Edu’s equity share from this round is approximately $21 million, with ETS and Shorelight LLC at the forefront. The balance was sourced from debt instruments.
In the equity distribution, ETS International and Shorelight each made significant contributions of $5 million. Three State Capital, Capri Global Holdings, and Blume Ventures further buttressed the round with their investments of $1.5 million, $1.45 million, and $1 million, respectively. Notably, other investors such as Kiazen Private Limited, NB Ventures, and Auctus Holding together channeled a collective $6.5 million.
Post-funding evaluations, as per data analytics firm TheKredible, position Leverage Edu’s market valuation at an impressive $140 million. This brings their cumulative funding, encompassing both equity and debt, to an estimated $70 million.
On the ownership front, ETS and Shorelight each command a 3.56% stake. Notably, Catalyst Trustship, Blume Ventures’ investment arm, has emerged as the major stakeholder, claiming 16.9%. Akshay Chaturvedi, the visionary behind Leverage Edu, retains a formidable 9.98% stake.
Founded in 2017 by Chaturvedi, Leverage Edu offers an array of services, from counseling and application processing to financing for students targeting international education. They have a diverse clientele, including students from India, Nigeria, and Nepal.
As part of its strategic growth blueprint, Leverage Edu has set its sights on Southeast Asia. This intention was underscored by their recent financial backing from the esteemed Thailand-based family office of Aloke and Suchitra Lohia.
While the firm optimistically projects a 2.5X revenue growth for FY23, it’s worth noting their FY22 figures. Their operating revenue witnessed a threefold jump, reaching Rs 40.17 crore, up from Rs 12.3 crore in FY21. On the flip side, the firm’s losses saw an uptick, from Rs 7.4 crore in FY21 to a significant Rs 30.64 crore in FY22.
Leverage Edu operates in a competitive space, contending with industry peers like Leap Scholar, CollegeDekho, and AdmitKard.
