SUMMARY
Goa-based edtech startup BrightChamps will accept cryptocurrencies such as Bitcoin, Tether, and Ethereum as mode of payments
It has tied up with Singapore-based crypto payment gateway TripleA to enable crypto transactions
The development comes couple of weeks after it acquired fintech startup Education10x
Goa-based edtech soonicorn BrightChamps which operates in over 30 countries will now be accepting cryptocurrencies as a mode of payment. The startup which offers essential skill learning courses will accept Bitcoin, Tether, and Ethereum as modes of payments from countries including the US, Canada, Nigeria, and Malaysia, among others. The startup is operational in these countries.
The startup has tied up with Singapore-based crypto payment gateway TripleA to enable crypto transactions for its existing and new customers. The TripleA is compliant with Singapore’s central bank – Monetary Authority of Singapore (MAS) and is also a member of the Singapore Fintech Association.
Commenting on the development, Ravi Bhushan, founder and CEO of the edtech startup said, “Cryptocurrency is the future of payments, and we, at BrightCHAMPS, are committed to ensuring that our customers are always empowered to embrace change. It is our belief that lack of financial literacy is one of the costliest things that can happen to anyone in the world.”
He further added that enabling crypto payments will make BrightChamps’ offerings accessible to a wider audience around the world in a seamless and more cost-effective manner with the help of the instantaneous transactions and lower transaction fees.
The new development comes on the back of BrightChamps marking its first acquisition. The edtech startup earlier this month had acquired New Delhi-based financial education startup Education10x.
It acquired Education10x in a cash and stock deal. The acquisition is in line with its vision of providing a one-stop solution for future-ready life skills to children in the K-12 segment.
Founded by Bhushan in 2020, BrightChamps is one of the handful of Indian startups that have become a $500 Mn valuation startup within a year of inception. The startup offers real life essential teachings that are often missed out by schools across the globe.
The certificate-based classes are centered around coding, creative thinking, social collaboration, Industry 4.0 concepts and scientific experiments. They are divided into three sections — grade 1-3, 4-6 and 7-12 — offering a mix of next-gen skills in the local languages of the students.
The startup made people turn their heads in November last year when it bagged $63 Mn led by Premji Invest, GSV Ventures, Binny Bansal, 021 Capital and BEENEXT at a $500 Mn valuation.
The startup is aggressively hiring to expand its team across functions such as product, technology, growth, content, operations, sales, marketing and business development. BrightChamps operates globally with key focus in the US, Canada, Middleeast, and Southeast Asia.
