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Listed education company Veranda Learning raises Rs 425 crore debt from BPEA Credit

IndianStartupNewsIndianStartupNews · 1y ago
Listed education company Veranda Learning raises Rs 425 crore debt from BPEA Credit
Medial

Veranda Learning, an education company offering competitive exam preparation and professional skilling programs, has raised Rs 425 crore through NCDs. The funds will be used for acquisitions, refinancing debts, and enhancing working capital. Veranda aims to dominate the education sector and sees this funding as instrumental in achieving strategic expansion goals. BPEA Credit's investment is a significant endorsement, and Anand Rathi Advisors highlights the attractiveness of the education sector for investors. Veranda has a successful acquisition strategy, with over Rs 1,000 crore invested and substantial revenue growth. Founded in 2018, Veranda offers a comprehensive educational ecosystem leveraging technology and personalization.

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Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital

EntrackrEntrackr · 4m ago
Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital
Medial

Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital Veranda Learning Solutions has acquired a 40.41% stake in the CA coaching class BB Virtuals and a 65% stake in the offline coaching provider in Gujarat, Navkar Digital. Veranda Learning will buy an additional 10.59% stake in BB Virtuals by June 2025. This will strengthen Veranda Learning's position in commerce education across India, and its commerce division is expected to reach a pro forma EBITDA of over Rs 120 crore for FY25. Founded in 2018 by Kalpathi AGS Group, Veranda is a publicly listed digital learning platform offering test prep for government exams, banking, insurance, railways, and more. In December last year, Veranda Learning Solutions received approvals to raise Rs 250 crore through a preferential issue. Started by Bhanwar Borana, BB Virtuals is an online platform for CA and commerce aspirants. BB Virtuals claims to have trained over 200,000 students online, producing more than 500 all-India rank-holders. With BB Virtuals’ strong online presence, Veranda will amplify its reach, offering a wider range of resources to support students pursuing professional qualifications in the Commerce segment. Navkar Digital is a well-established offline education platform for chartered accountancy (CA), company secretary (CS), and cost & management accountancy (CMA) aspirants in Gujarat.

Lending company mPokket raises $60 Mn debt from BPEA Credit

EntrackrEntrackr · 1y ago
Lending company mPokket raises $60 Mn debt from BPEA Credit
Medial

Digital lending platform mPokket has raised Rs 500 crore (approximately $60 million) in debt capital from private credit platform of BPEA Credit, the credit arm of Baring Private Equity Asia. The company last raised $2.24 million in funding in January 2020. The funds will be used to meet the growing credit demand from mPokket’s 24 million registered customer base while accelerating product development in the career accelerator and insurance verticals, the company said in a press release. Led by Gaurav Jalan, mPokket offers credit, insurance and career acceleration products to underserved youth, including working professionals and self-employed individuals. The eight-year-old company claims to have delivered healthy profit margins for seven consecutive years. mPokket said that it has disbursed loans with $1.7 billion in value to date with minimal default rates. mPokket recorded nearly two-fold jump in its revenue from operations to Rs 657 crore in FY23 from Rs 334 crore in FY22, according to startup data intelligence platform TheKredible. However, the firm’s profit slipped to Rs 58.7 crore in FY23 from Rs 107.8 crore in the previous fiscal. BPEA Credit provides growth capital to established mid-market companies. Over the past 11 years, it has raised three funds and invested more than $1 billion across 70 portfolio companies in multiple sectors. As per a media report, the fund is planning to launch its inaugural India-Southeast Asia fund with a targeted size of $750 million by the end of the year. It had previously backed global co-working space provider WeWork.

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