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Leverage Edu bags $40 Mn in a mix of equity and debt round

Entrackr

Entrackr · 2y ago

Leverage Edu bags $40 Mn in a mix of equity and debt round

Study abroad edtech platform Leverage Edu has raised $40 million in a Series C funding round led by Educational Testing Service (ETS), an educational testing and assessment organization. With this, the Noida-based Leverage Edu marks its first fundraise in 2023.

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Decoding Leverage Edu’s Series C round

Entrackr

Entrackr · 1y ago

Decoding Leverage Edu’s Series C round

Leverage Edu, a study abroad edtech platform, has raised $40 million in a Series C funding round. The round was led by Educational Testing Service (ETS), along with participation from Shorelight LLC. Around $21 million was raised through equity, with ETS and Shorelight leading the way. The remaining funding came from debt capital. Leverage Edu offers counseling, application-admission support, and financing to students pursuing international education. The company plans to expand its presence in the Southeast Asian market. Its valuation is estimated to be around $140 million.

Leverage Edu raises $40 million at $150 million valuation: Reports

Inshorts · 2y ago

Leverage Edu raises $40 million at $150 million valuation: Reports

Leverage Edu, an edtech startup, has secured $40 million in funding from various sources, including the US-based Educational Testing Service, as well as existing investors such as Blume Ventures and DSG Consumer Partners. Reports suggest that this funding round has led to a valuation of approximately $150 million for the startup. In March of the previous year, Leverage Edu raised $22 million, valuing the company at around $120 million.

Leverage Edu announces second ESOP buyback

Entrackr

Entrackr · 1y ago

Leverage Edu announces second ESOP buyback

Leverage.biz, which runs study abroad platform Leverage Edu, Fly.Finance and Fly Homes, today announced that it has completed its second ESOP buyback exercise. Over 50 employees of the company across functions were able to benefit from this exercise. However, the company did not disclose the amount of the stock buyback. Seven-year-old Leverage Edu provides full-stack services including counseling, application-admission support, and financing to students pursuing international education. It assists students from India, Nigeria and Nepal, among others. The company raised $40 million a mix of debt and equity led by Educational Testing Service (ETS) in July last year. It has raised around $70 million across rounds and was last valued at around $140 million. As per startup data intelligence platform TheKredible, Blume Ventures is the largest external stakeholder in Leverage Edu with 16.9% followed by Tomorrow Capital and DSG Consumers Partners. The company’s revenue from operations spiked 228% to Rs 69 crore in FY23 from Rs 21 crore in FY22 while its losses jumped 70% to Rs 103 crore in FY23 from Rs 47 crore in the previous year. The total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. In 2024, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.

FarMart bags $10 Mn through equity and debt funding

Entrackr

Entrackr · 3m ago

FarMart bags $10 Mn through equity and debt funding

FarMart allotted 977 Series C CCPS at Rs 4,52,182 per share, with GC India Investment Holdings leading the round with Rs 43 crore, followed by Matrix Partners India (Z47) contributing Rs 1 crore. SaaS-based food supply platform FarMart has raised Rs 84 crore (approx $10 million) through a mix of equity and debt funding. FarMart allotted 977 Series C CCPS at Rs 4,52,182 per share, with GC India Investment Holdings leading the round with Rs 43 crore, followed by Matrix Partners India (Z47) contributing Rs 1 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Besides equity funding, FarMart has issued non-convertible debentures to Stride and Trifecta Venture, totaling Rs 40 crore, the filing shows. The company will use the funds for growth, expansion, and general corporate purposes, as per filings. Entrackr estimates that FarMart has been valued at around Rs 1,800 crore (around $210 million) post-allotment in the latest funding round. FarMart’s B2B platform digitizes the supply chain for agricultural inputs and produce, connecting nearby buyers and sellers to reduce logistics costs associated with long-distance transportation. The company has a strong retailer network across central and northern India, though its presence remains limited in southern states and Jammu & Kashmir. The company has raised over $60 million to date, including its $32 million Series B round led by General Catalyst, with participation from existing investors, Z47, and Omidyar Network India. According to TheKredible, FarMart’s operating revenue grew 30% year-on-year to Rs 1,341 crore in FY24, while it reported a net loss of Rs 68 crore for the same period. GC India Investment Holdings Group, Z47, and ON Mauritius are among the company’s lead investors. Farmart directly competes with Info Edge-backed Gramophone, Kalaari-backed Agrim, Krishify, and others.

Pratilipi raises ₹10.11 cr from Alteria Capital

Inshorts · 6m ago

Pratilipi raises ₹10.11 cr from Alteria Capital

Bengaluru-based self-publishing platform Pratilipi has raised ₹10.11 crore in a bridge funding round, which was a mix of equity and debt, from Alteria Capital. Out of the ₹10.11 crore, about ₹5 crore was raised in debt and the remaining was equity funding, as per the startups regulatory filings.

PaySense Cofounder’s New Venture Bags $25.5 Mn Seed Funding

Inc42 · 9m ago

PaySense Cofounder’s New Venture Bags $25.5 Mn Seed Funding

Zinc, an edu-wealth startup founded in 2023 by Prashanth Ranganathan, has raised funding led by Nexus Venture Partners. The funding round also included participation from Quona Capital, EDBI, Global Ventures, and Saison Capital. Zinc helps counsel students for overseas education and assists families in investing to meet the rising costs of studying abroad. Ranganathan, who was a co-founder of PaySense, joined PayU Credit as CEO before founding Zinc.

Healthtech startup Dozee raises $8 mn for global expansion

Inshorts · 4m ago

Healthtech startup Dozee raises $8 mn for global expansion

Healthtech startup Dozee, backed by Prime Venture Partners, 3one4 Capital, among others, has raised about $8.3 million in a mix of equity and debt, sources told Inc42. As per the startup MCA filings, Temasek Trust impact-first investment vehicle C3H infused ₹6.3 crore in the form of equity in the Bengaluru-based startup.

Drip Capital raises $113 mn in a mix of equity and debt

VCCircle

VCCircle · 10m ago

Drip Capital raises $113 mn in a mix of equity and debt

Drip Capital, a digital cross-border trade finance platform for SMBs, has raised $113 million in a funding round consisting of $23 million in equity and $90 million in debt. The funding will support the company's expansion and the development of new products. Drip Capital offers collateral-free working capital to SMBs involved in cross-border trade and works with over 9,000 sellers and buyers in more than 100 countries. This latest round comes three years after the company raised $40 million in equity and $135 million in debt funding. Drip Capital aims to double its revenue over the next two years.

RupeeRedee’s NBFC FincFriends Bags $7.8 Mn In Debt & Equity

Inc42 · 1y ago

RupeeRedee’s NBFC FincFriends Bags $7.8 Mn In Debt & Equity

Digital lending platform RupeeRedee's non-banking finance company (NBFC) arm, FincFriends, has raised $7.8 million in a strategic funding round. InCred Finance and Grow Money Capital led the financing, injecting $3 million in equity, while APV Management contributed the remaining amount in equity and debt. The funding will be used to support FincFriends' growth, expand its product portfolio, and scale its operations. FincFriends offers digital loans and financing solutions, catering to underserved customers in India's digital lending ecosystem. Despite increased scrutiny on the sector, digital lending continues to attract entrepreneurs and investors.

Leverage Edu Secures Capital From Lohia Family Office As It Plans To Set Foot In Thailand

Inc42 · 1y ago

Leverage Edu Secures Capital From Lohia Family Office As It Plans To Set Foot In Thailand

Study abroad platform Leverage Edu has secured an undisclosed amount of funding from the family office of Aloke and Suchitra Lohia, enabling the startup to expand in Thailand. The funding will also allow Leverage Edu to target the growing number of Thai students seeking to study abroad. The partnership will leverage the networks and synergies of the Lohia couple, who are the majority shareholders in Thailand's Indorama Ventures. Leverage Edu has raised a total of $62 million in funding to date and was last valued at approximately $150 million.

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