Study Abroad Platform Leverage Edu Raises $40 Mn At $150 Mn Valuation

Noida-based study abroad platform Leverage Edu has secured $40 Mn in its Series C funding round led by the Princeton-based Language Testing conglomerate ETS, people familiar with the developments told Inc42.

Existing investors, Blume Ventures, DSG Consumer Partners, & Kaizenvest PE have also participated in the round. The people said the startup has commanded a valuation of about $150 Mn, a 35-40% up-round to its $22 Mn Series B round last year.

In February 2021, Leverage Edu raised $6.5 Mn in its Series A from Blume Ventures, DSG Consumer Partners and Tomorrow Capital, among others.

In all, the study abroad platform has secured more than $70 Mn in equity funding across multiple rounds.

ETS develops and conducts standardised tests, including the Test of English as a Foreign Language (TOEFL) and Graduate Record Examination (GRE). Last August, the conglomerate led the $210 Mn funding in upskilling unicorn upGrad, valuing the startup at around $2.25 Bn.

Founded in 2017 by Akshay Chaturvedi, Leverage Edu has built a technology-led counselling platform that gives students access to a one-stop dashboard for their entire study abroad journey.

The platform offers multiple add-on services, including education loans via non-banking financial companies (NBFCs) such as HDFC Credilla and Avanse, along with money transfers abroad, accommodations and visa applications.

Leverage Edu claims to have received offers for 20,000+ students via its 650+ university partners. A majority of Leverage’s student base goes to the UK, followed by Canada and the US.

India has one of the world’s largest student bases abroad, with the US, the UK, Canada and Australia among the top destinations for students looking for education opportunities abroad.

While the segment is dominated by small enterprises across cities and towns, Leverage Edu has competition in the form of Leap, which secured a $75 Mn funding round last year. Leverage also competes with UniScholars (formerly Adventum Student Living), which secured $5 Mn in its Pre-Series B last year.

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