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Test-prep startup Exampur delays employees salaries for months, founder says, "we plan to pay in 3-4 months"

IndianStartupNewsIndianStartupNews · 11m
Test-prep startup Exampur delays employees salaries for months, founder says, "we plan to pay in 3-4 months"

Exampur, a test-prep startup, is facing financial difficulties, leading to unpaid staff salaries and unsettled full and final (F&F) payments for employees. The company's co-founder attributed the issues to a failed acquisition by upGrad and a subsequent shortage of funds. The acquisition caused operations to scale down, resulting in layoffs and employee departures. The co-founder sold personal holdings and mortgaged belongings to sustain the company, but salaries were still delayed. Exampur expects to pay off December salaries by February end and plans to pay off dues to ex-employees in the next three to four months. The edtech sector as a whole is experiencing funding challenges, with many startups making cost cuts and layoffs.

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