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Study-abroad platform Leverage Edu announces second ESOP buyback

IndianStartupNews

IndianStartupNews · 1y ago

Study-abroad platform Leverage Edu announces second ESOP buyback

Leverage Edu, a study-abroad platform, has completed its second employee stock ownership plan (ESOP) buyback, benefiting over 50 employees. Founded in 2017, Leverage Edu provides students with comprehensive support for pursuing international education. The exact amount of the buyback was not disclosed, but the move highlights a significant milestone for the company. Leverage Edu has raised approximately $70 million in funding and is valued at around $150 million. Despite revenue growth, the startup's losses have also increased. Founder and CEO Akshay Chaturvedi expressed surprise at the oversubscription of the buyback and the low amount of shares sold.

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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.

Study Abroad Platform Leverage Edu launches student accommodation platform Fly Homes

IndianStartupNews

IndianStartupNews · 2y ago

Study Abroad Platform Leverage Edu launches student accommodation platform Fly Homes

Leverage Edu, the study abroad platform, introduces "Fly Homes," as reported by Indian Startup News. The new offering is designed to assist international students in finding suitable accommodation abroad. Leveraging its network and expertise, Leverage Edu aims to simplify the process of securing safe and comfortable housing options for students pursuing their education overseas, enhancing their study abroad experience.

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.

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.

Agritech startup DeHaat completes its first ESOP buyback

Entrackr

Entrackr · 1y ago

Agritech startup DeHaat completes its first ESOP buyback

Full stack agritech platform DeHaat has completed an employee stock ownership plan (ESOP) buyback program worth Rs 10 crore ($1.2 million). This is the first ever ESOP buyback for the Patna and Gurugram-based company. “The buyback saw 153 team members spread across senior vice president rank to field teams got the opportunity of wealth creation,” said Rishu Garg, who heads the people function at DeHaat. To date, DeHaat has issued ESOPs worth over Rs 100 crore ($12 million) to more than 200 individuals. DeHaat is a marketplace for the agricultural sector which offers distribution of high-quality agrarian inputs, advisory, lending, and market linkages for selling their produce. The company recently roped in Bollywood actor Pankaj Tripathi as its brand endorser and onboarded agri industry veteran Dr. K V Subbarao as its first Independent Advisor. DeHaat’s gross revenue grew 54.2% to Rs 1,965 crore in FY23 from Rs 1,274 crore in FY22. The company said that its revenue from operations increased 40% to Rs 2,700 crore while losses was reduced by 50% in FY24. The firm aims to achieve full year profitability during FY25. Dehaat has raised around $230 million to date and was valued at over $705 million according to startup data intelligence platform TheKredible. Last week, study abroad platform Leverage Edu announced its second ESOP buyback program. In the ongoing calendar year, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.

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.

Edtech Soonicorn Classplus Announces Second ESOP Buyback For Over 150 Employees

Inc42 · 1y ago

Edtech Soonicorn Classplus Announces Second ESOP Buyback For Over 150 Employees

Delhi NCR-based edtech startup, Classplus, has launched its second employee stock ownership plan (ESOP) buyback program, allowing over 150 employees to sell their vested shares. The exact amount dedicated to the buyback remains undisclosed. Classplus became the first edtech startup to announce a buyback this year. With 748 employees, over 20% of them are eligible for the program. In its first ESOP buyback, 30 employees participated, resulting in a worth of $1 million. ESOP allocations are expected to increase this year, with 55% of Indian startup founders relying on them to attract talent.

Leverage Edu’s FY23 Loss Widens 118% To INR 102.8 Cr, Sales Surge 3.3X

Inc42 · 1y ago

Leverage Edu’s FY23 Loss Widens 118% To INR 102.8 Cr, Sales Surge 3.3X

Study abroad platform, Leverage Edu, experienced a significant rise in expenses, causing its loss to widen by 118% in FY23. The startup's operating revenue, however, saw a 3.3x increase, reaching INR 68.9 Cr. Leverage Edu's strategic focus for 2022 was on long-term investments, including improving content, community, and acquisition products. The company also reported substantial brand growth and increased investments in marketing and team expansion. Its total expenses rose by 153% to INR 173.5 Cr, primarily driven by other expenses and advertising costs.

XYXX announces ESOP buyback program

Entrackr

Entrackr · 1y ago

XYXX announces ESOP buyback program

Men-focused premium innerwear and lifestyle brand XYXX has announced its first Employee Stock Ownership Plan (ESOP) buyback. XYXX’s ESOP programme was introduced 4 years ago, and employees who have completed their tenure are eligible for the buyback. According to the firm, the eligible employees are allowed to liquidate at a 6X premium on the allotted price with zero strike price. XYXX’s ESOP buyback programme currently includes employees spanning from senior managers to heads of departments as well as executive leadership. The buyback comes within a year of XYXX’s $13.5 million Series C round led by Amazon Smbhav Venture Fund. XYXX claims to have pan-India presence with over 22,000 touchpoints through top Multi Brand Outlets (MBOs), a strong modern trade presence with Shoppers Stop, and Reliance Trends, amongst others as well as Exclusive Brand Outlets (EBOs) in multiple key cities. Its products are available on website (xyxxcrew.com) and available on e-commerce marketplaces including Amazon, Flipkart, Myntra and Ajio. On Monday, audio series platform Pocket FM announced its first ESOP buyback worth $8.3 million. As per data compiled by TheKredible, 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, MyGate, Classplus and Meesho also completed their ESOP buyback scheme.

Why study-abroad startups are facing testing times

Livemint

Livemint · 3m ago

Why study-abroad startups are facing testing times

Study-abroad startups like Leap Scholar, Leverage Edu, AdmitKard, and upGrad face challenges as the US, UK, Canada, and Australia tighten international student admission rules. This has led to a 27% decrease in enrolments, impacting these startups that facilitate overseas education. Students like Samarth from Karnataka are also affected by stricter visa regulations, finding it risky to travel due to concerns over potential visa cancellations even for minor delays in returning after internships.

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