Foreign education consultancy and admissions platform Leverage Edu announced it has raised $2 million in a debt financing round from venture debt firm Trifecta Capital.
This is Leverage Edu’s first debt raise, and with the latest funding round, the New Delhi-based EdTech startup has raised over $10 million to date.
Founded by Akshay Chaturvedi in 2017, Leverage Edu provides students enrolled on its platform with a seamless college application journey, which includes personalized mentor-led one-on-one workshops, portfolio build-up sessions, access to pre-program internships & online courses, and exclusive scholarship options. The company also helps students with services like visas, accommodation, and education loans. Leverage Edu also operates Univalley.com, which provides advisory, tech, and recruitment solutions to partner universities across the globe.
Commenting on the latest development, Akshay Chaturvedi, Founder & CEO, Leverage Edu, said,
“I’m very excited to begin this relationship with the Trifecta Capital team. Leverage Edu’s business model has a great debt use case especially now when we are increasingly growing deeper in every region of India. In the past year, apart from metro cities, Leverage Edu has penetrated in the non-metro markets as well which now contributes to 60% of our customer base. This debt round will help us in building further towards this objective through relevant product and resource investments and thus emerge as a truly pan-India service.”
The company said it will use the fresh funds to fuel its growth and go deeper into Tier 2-4 markets in India, apart from accelerating product innovation in line with their student-first approach.
Rahul Khanna, Co-founder and Managing Partner at Trifecta Capital, commented on the funding,
“Leverage Edu is on a mission to democratize access to overseas education. It has scaled rapidly and has access to a global university network spanning four continents. In the increasingly competitive EdTech sector, Leverage Edu has a unique end-to-end offering to help students achieve their foreign education goals. We believe Leverage Edu is well on its way to cementing its leadership in the digital-first student immigration segment and are excited to partner with Akshay and the Leverage Edu team going forward.”
Leverage Edu had in February this year raised $6.5 million in its Series A funding round led by early-stage investment firm Tomorrow Capital with participation from existing investors Blume Ventures and DSG Consumer Partners. Prior to that, it raised over $1.5 million in December 2019 from Blume Ventures, DSG Consumer Partners, and others. The company counts angels like Saama Capital founder Ash Lilani, Pine Labs CEO Amrish Rau, and Goqii founder Vishal Gondal among its other investors.