Leap Finance, a fintech stage for Indian understudies seeking after advanced education abroad, has brought $55 million up in its Series C drove by Owl Ventures. This is the second gather pledges for the Bengaluru-based startup in 2021 which gathered up $17 million Series B in March.
The new round likewise saw cooperation from Harvard Management Company, Inc. what’s more, existing financial backers Jungle Ventures and Sequoia Capital India. It brings the absolute value capital raised by the startup to date to more than $75 million.
Leap will use the new returns for development and extend its offerings to understudies across SE Asia and MENA districts and empower them to seek after instruction yearnings across in excess of 20 nations, said the organization in a delivery.
Last month, the organization likewise announced that it intends to recruit 500 workers before the year’s over, in India and abroad, to sustain its item and technology stack.
Leap Finance’s plan of action and rivalry
Dispatched by Vaibhav Singh and Arnav Kumar, the multi month-old startup is a full stack stage for understudies enthused about seeking after schooling in abroad colleges. Its offering covers guiding, visa, advances, and other monetary items. Right now, it gives admittance to establishments in the US, Canada, UK and Australia. It professes to offer insurance free schooling credits through Leap Finance Inc. at a financing cost between 8.25% to 10.25%.
The organization charges a 2% preparing expense on advances at the hour of asset payment. Since its commencement, the startup professes to have helped more than 60,000 understudies in their concentrate abroad excursion.
Leap additionally offers a worldwide ledger where understudies get a functioning US financial balance and check card while in India with zero charges and the most minimal forex rates. The organization is intending to dispatch a Visa for worldwide understudies.
Leap Finance rivals any semblance of MPower Financing and Credenc as far as financing training abroad. Manu Smadja-drove Mpower Financing has arisen as the biggest player in this space. It had as of late brought $152.5 million up in a blend of value and obligation from Tilden Park Capital Management and King Street Capital Management.
