Overseas education startup Leap said Wednesday that it has raised $ 55 million (₹ 400 crore) as part of a Series C funding round led by Owl Ventures.
The round also featured participation from Harvard Management Company, Inc., along with existing investors Jungle Ventures and Sequoia Capital India.
With the current round, Leap has raised more than $ 75 million in equity capital to date.
The company says it will use the proceeds from the current fundraiser to extend its suite of services to students throughout Southeast Asia and expand into the Middle East and North Africa (MENA) region.
Two-year-old Leap is an online platform that helps students from across South Asia pursue an international higher education. Its Leap Finance and Leap Scholar products overlap the edtech and fintech domains.
The company’s suite of products provides applicants with international exam preparation, career admissions counseling, student loans, student bank accounts, foreign currency remittances, and career guidance.
“We expect more than a million students from the region to move abroad in the next 12 months,” said Vaibhav Singh, co-founder of Leap.
“The overseas education market is fragmented where there is no one-size-fits-all solution. It can be very confusing for students to know where to start preparation, which colleges to go to, and how they are going to pay for their education. Leap is creating a comprehensive platform that addresses all of these preparation and financing needs, “said Amit Patel, managing director of Owl Ventures.
With the fundraising, Leap also intends to expand its product portfolio and seeks to offer credit card and insurance products to international students.
