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Leverage Edu revenue spikes 3.2X to Rs 69 Cr in FY23

EntrackrEntrackr · 1y ago
Leverage Edu revenue spikes 3.2X to Rs 69 Cr in FY23
Medial

Leverage Edu, which helps Indian students enroll in global colleges, has registered over three-fold growth in its operating scale in the fiscal year ending March 2023. At the same time, the Delhi-based firm’s losses rose 70%. Revenue from operations for the edtech startup spiked 228% to Rs 69 crore in FY23 from Rs 21 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Founded in 2017 by Akshay Chaturvedi, 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 student placement services formed 90% of the Leverage Edu’s total operating revenue which shot up 3.26X to Rs 62 crore in FY23. The remaining income derived from other support services. Notably, 84% of the total revenue was generated from international sources, with India contributing 16% of the company’s income. On the cost front, employee benefits became the largest burn accounting for 38% of the overall expenditure. This cost grew 2.1X to Rs 66 crore in FY23 whereas advertising cum promotional cost saw a surge of 2.6X to Rs 55 crore in the previous fiscal year (FY23). Leverage Edu’s information technology, legal professional, rent, commissions, and other overheads took its total expenditure up by 154% to Rs 173 crore in FY23 from Rs 68 crore in FY22. Head to TheKredible for the detailed expense breakup. At the end, Leverage Edu’s losses grew 70% to Rs 103 crore in FY23 from Rs 47 crore in FY22. Its ROCE and EBITDA margin stood at -272% and -136.6%, respectively. On a unit level, it spent Rs 2.51 to earn a rupee. FY22-FY23 FY22 FY23 EBITDA Margin -142% -136.6% Expense/₹ of Op Revenue ₹3.24 ₹2.51 ROCE -31% -272% The company had raised around $70 million across rounds and was last valued at around $140 million. According to the startup data intelligence platform TheKredible, Blume Ventures is the largest external stakeholder with 16.9% followed by Tomorrow Capital and DSG Consumers Partners which command 14.82% and 12.52% stake, respectively. As LeverageEdu has grown, it has also expanded the breadth of its offerings, be it test prep or even funding arrangements. While that indicates focus on its target group, the firm is exposed to multiple risks due to its high costs. Disruption in markets like Canada has been well documented, but other lucrative western markets in Europe, besides the US, could also see a slowdown due to a poor job market there. Chaturvedi builds a strong narrative, reflected in the backing of over 50 investors he has garnered over the time since he launched the firm. That also provides him many avenues to seek tie-ups, expansions and more. However, eventually it all has to come back to something that can move ahead more sustainably. In a sector particularly loyal to strong brands, a drop in marketing costs should be expected now that the firm claims significant success behind it.

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Leverage Edu announces second ESOP buyback

EntrackrEntrackr · 1y ago
Leverage Edu announces second ESOP buyback
Medial

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.

Leverage Edu crosses Rs 180 Cr revenue in FY25

EntrackrEntrackr · 3m ago
Leverage Edu crosses Rs 180 Cr revenue in FY25
Medial

Leverage Edu, which helps Indian students enroll in global colleges, recorded over 2X year-on-year growth in its revenue to over Rs 180 crore in the fiscal year ending March 2025, compared to Rs 90 crore in FY24. The Blume Ventures-backed company significantly improved its EBITDA margin by over 50% and now boasts an annualized revenue of Rs 400 crore (approximately $45 million), according to a recent LinkedIn post by Leverage Edu founder Akshay Chaturvedi. During FY24, the company posted a net loss of Rs 68.3 crore and an expense-to-revenue ratio of Rs 1.79. According to the LinkedIn post, the NPS (Net Promoter Score) has moved 1.4X in FY25 with the average Google rating of 4.7 stars. Moreover, its referral percentage increased from 4% to 23% during FY25. Founded in 2017, 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 has expanded into six new markets, bringing its total presence to 11, with 30% of its customers now coming from international markets. It has also launched 11 experience stores to date and aims to increase this number to 30 by the end of FY26. Leverage Edu has raised approximately $70 million to date and was last valued at around $140 million. According to the startup data intelligence platform TheKredible, Blume Ventures is the largest external stakeholder with 16.9%, followed by Tomorrow Capital and DSG Consumer Partners which command 14.82% and 12.52% stake, respectively.

Table Space revenue spikes 2X to Rs 780 Cr in FY23; stays profitable

EntrackrEntrackr · 1y ago
Table Space revenue spikes 2X to Rs 780 Cr in FY23; stays profitable
Medial

Co-working space solutions provider Table Space has demonstrated solid financial performance in the last fiscal year as the company’s operating scale grew over 97% and neared the Rs 680 crore revenue mark. At the same time, the Bengaluru-based firm remained profitable during FY23. Table Space’s revenue from operations jumped to Rs 678.5 crore in the fiscal year ending March 2023 from Rs 344 crore in FY22, its consolidated financial statements filed with the RoC show. Founded by Amit Banerji in 2017, Table Space provides customized coworking spaces and claims to have a capacity of more than 10 million square feet with 75 plus centers in over 7 cities including Bengaluru. Rental and lease income formed 75% of the total operating revenue which saw a growth of 69% to Rs 512 crore in FY23 from Rs 303 crore in FY22. Facility management, common area maintenance, and sale of food and beverages were some other revenue drivers for the company. Table Space also earned Rs 90 crore from non-operating activities which tallied its total income to Rs 768.5 crore during the last fiscal year (FY23). See TheKredible for the detailed revenue breakup. Its finance and depreciation costs, concerning the lease accounted for 59% of the overall expenditure which surged 2X to Rs 414 crore in FY23. Table Space’s employee benefits, repair cum maintenance, advertising, legal professional, rent and other overheads catalyzed its overall expense up by 118% to Rs 703.8 crore in FY23 from Rs 321.6 crore in FY22. Head to TheKredible for the complete expense breakdown. The decent scale and two-fold growth in other income helped Table Space to increase its profits marginally to Rs 45.9 crore in FY23 from Rs 44.5 crore in FY22. Its ROCE and EBITDA margin stood at 9% and 62.3%. The company spent Rs 1.04 to earn a rupee in FY23. Table Space has raised around $330 million across several rounds including a $300 million round from Hillhouse. According to the startup data intelligence platform TheKredible, Hillhouse is the largest stakeholder with 31.49%. Its core team including Amit Banerji, Karan Chopra, Srinivas Prasad, and Narendra Kumar Kamaraju commands 56.48% of the company. The company competes with the likes of Smartworks, Awfis, IndiQube, WeWork and others. Table Space continues the trend of co-working platforms delivering strong growth, even as it has seen margins shrink at the same time. But being profitable matters, and the firm is poised to benefit all the more from the growth momentum thanks to that. However, the high income from non operating activities might also not be sustainable, which will put further pressure on the bottomline. All out growth versus well considered growth is still a much better problem to have than growth versus survival, however.

Toothsi-parent MakeO’s revenue spikes 2X in FY23, posts Rs 220 Cr loss

EntrackrEntrackr · 1y ago
Toothsi-parent MakeO’s revenue spikes 2X in FY23, posts Rs 220 Cr loss
Medial

Toothsi and skincare brand Skinnsi-parent MakeO has managed over two-fold growth in its operating scale in FY23. Significantly, the company also controlled its losses which grew around 20% in the last fiscal. Though the operating income is yet to come close to its losses. MakeO’s revenue from operations surged 2.15X to Rs 168 crore in the fiscal year ending March 2023 from Rs 78 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Toothsi Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain and Anirudh Kal, MakeO started as an aligner brand Toothsi. Later, it merged its flagship brands, including Skinnsi. Under the two brands, the firm provides dental, skin, and hair treatment solutions. The sale of tooth aligners formed 69% of the total operating revenue which spiked 75.8% to Rs 116 crore in FY23. The rest of the revenue came from the sale of Skinsi services which include facial, anti-aging, acne reduction, and other skin treatments. See TheKredible for the detailed revenue breakup. Employee benefits emerged as the largest cost center for MakeO, accounting for 32.1% of the overall expenditure. This cost grew 76.4% to Rs 127 crore in FY23. This includes Rs 21 crore as ESOP costs. MakeO’s consultant fees which include scanning and therapist charges grew 15.4% to Rs 60 crore in FY23. The firm’s procurement, payment gateway, marketing, rent, legal /professional, and other overheads took its overall expenditure up by 50.2% to Rs 395 crore in FY23. Head to TheKredible for the complete expense breakup. Expense Breakdown Total ₹ 263 Cr https://thekredible.com/company/toothsi/financials View Full Data To access complete data, visithttps://thekredible.com/company/toothsi/financials Total ₹ 395 Cr https://thekredible.com/company/toothsi/financials View Full Data To access complete data, visithttps://thekredible.com/company/toothsi/financials Cost of procurement Cost of procurement Employee benefit Employee benefit Consultant Fees Consultant Fees Rent Rent Subvention and Payment Gateway Charges Subvention and Payment Gateway Charges Marketing Marketing Legal and Professional Legal and Professional Others To check complete Expense Breakdown visit thekredible.com View full data Makeo’s two-fold surge in scale and controlled expenditure kept its losses under control which increased 19.6% to Rs 220 crore in FY23. Its ROCE and EBITDA margin stood at -135% and -115.4%, respectively. On a unit level, it spent Rs 2.35 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -218% -115.4% Expense/₹ of Op Revenue ₹3.37 ₹2.35 ROCE -276% -135% MakeO has raised over $90 million across rounds including its latest fundraising of $16 million led by 360 One Asset. According to the data intelligence platform TheKredible, Eight Road Ventures is the largest stakeholder in the company followed by Think Investments. While controlling its losses might seem like a positive here, in its business , it might also point to the high fixed costs that are truly sticky. That would imply a need for a massive improvement in topline for MakeO, something that doesn’t look easy by any stretch in a fiercely competitive market. Especially for Skinnsi. We believe this is a firm that is definitely not out of the woods yet despite improving financials.

ApnaKlub’s gross revenue spikes 6X to Rs 278 Cr in FY23

EntrackrEntrackr · 1y ago
ApnaKlub’s gross revenue spikes 6X to Rs 278 Cr in FY23
Medial

B2B consumer goods startup ApnaKlub raised $16 million led by TrueScale Capital and ICMG partners in January this year. And, it looks like the company’s growth numbers attracted the two backers: Its gross scale spiked nearly six-fold in the fiscal year ending March 2023. ApnaKlub’s gross revenue grew to Rs 278 crore in FY23 from Rs 47 crore in FY22, its financial statements sourced from RoC show. Founded in 2020, Apnaklub connects retailers, kirana stores, and fast-moving consumer goods (FMCG) brands via its wholesale partners. The sale of products was the primary source of revenue for ApnaKlub. Its personal care products top the collection charts followed by beverages, home care, processed foods, and others. The company also has an income of Rs 3 crore from the interest on long-term investments (non-operating) in FY23. See TheKredible for the detailed revenue breakup. In line with fellow B2B wholesale startups, the cost of procurement of goods turned out to be the largest cost center forming 82% of the overall expenditure. In sync with scale, this cost surged 5.8X to Rs 275 crore in FY23 from Rs 47 crore in FY22. ApnaKlub’s employee benefits, rent, advertising cum promotional, freight, contract, legal, and other overheads pushed its total expenditure to Rs 332 crore in FY23 from Rs 63 crore in FY22. Head to TheKredible for the detailed expense breakup. ApnaKlub bled heavily in pursuit of growth, leading to a 4.6X increase in losses to Rs 56 crore in FY23 as compared to Rs 12 crore in FY22. Its ROCE and EBITDA margins were recorded at -50% and -17.4% respectively. On a unit level, it spent Rs 1.19 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -32% -17.4% Expense/₹ of Op Revenue ₹1.34 ₹1.19 ROCE -52% -50% While ApnaKlub might be on a path to breakeven only at a Rs 1000 crore plus turnover, the higher share of personal care products might allow a faster path to profitability, considering the better margins in that segment. Having said that, it is no secret that the actual marketplace for this segment is a battlefield that has left most players bloodied, if not fatally wounded. ApnaKlub must be doing something different to convince investors to bet on it in the current funding environment, and just for that, the firm needs to be tracked carefully for the next steps on its journey.

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