Overseas education start-up Leap has announced that it has raised $75 million in a fundraising round led by Owl Ventures, with participation from new investors Steadview Capital and Paramark Ventures as well as established backers like Jungle Ventures and Sequoia Capital India. This brings the start-up's total equity funding raised since its establishment in 2019 to over $150 million.
The company, which also runs LeapScholar, LeapFinance and Yocket, is a full-stack international student mobility platform. With more than two million students, the firm manages the biggest online network for students interested in studying abroad.
Focused on the student community, Leap is known to provide a range of products to cover the lifecycle of an international student. These include services for admissions and visa guidance, preparation for international exams like the IELTS, TOEFL, SAT, etc., as well as financial options including international student loans, international bank accounts, credit cards, and money remittance services.
Commenting on the development, Vaibhav Singh, co-founder of Leap, stated, “Students love our truly unique one-stop approach to meeting their international education needs. This combined with the overall strong rebound in international student outflows post-covid has led to exponential growth for us.” “With the backing of marquee global investors, we continue to march forward on our mission to democratize access to quality global education and make these dreams a reality,” he went on to add.
The company claimed that over 175,000 students have benefitted from Leap's assistance in the previous year as a result of its comprehensive, end-to-end approach, addressing the pain points of international students.
Managing Director of Owl Ventures, Amit Patel expressed his delight at Owl Ventures backing the overseas education startup. He said, “Owl is thrilled to be working with Leap to create a transformative company that will impact generations of students around the world in their pursuit to access and afford high-quality international education opportunities. By simplifying an otherwise overwhelming process and helping students navigate all the steps of counselling, test-prep, and financing, Leap is well-positioned to support the increasing demand to go and study abroad as more countries and companies around the world are becoming further integrated into the global economy.”
Leap has launched multiple fresh expansion projects in recent months. In April, the company announced a collaboration with Colorado State University in the United States. Through this arrangement, Indian students would have access to the university's acclaimed MCIS programme in a special multi-geography hybrid format at a much-reduced rate.
Additionally, the company asserted that its 750+ foreign university partners had a lot more such offerings planned for its students in the future. Earlier this year, the company also announced that it will be expanding to the Middle East to assist students in their search for study opportunities in the region.
Commenting on the company’s future ambitions, Arnav Kumar, co-founder of Leap said, “Having built the underlying infrastructure for global student mobility, we are now able to scale rapidly across multiple dimensions. We have launched many industry-first products and experiences to make the student journey seamless. Ensuring student success has been our mission and we will continue to deepen our existing offerings and launch newer ones in the months ahead.”
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