At least three persons with knowledge of the situation told ET that Leverage Edu’s fresh fundraising round was led by Educational Testing Service (ETS).
The equity portion of the round is estimated at $25–27 million, with the overall fundraise, including debt, touching $40 million, they said.
The funding round is likely to value the startup at roughly $150 million post-money, they said.
ETS creates structured examinations, particularly in the US, and also manages foreign exams such as the Graduate Record Examination (GRE) and Test of English as a Foreign Language (TOEFL), as per reported by The Economic Times.
Leverage Edu has moved into other commercial sectors, including loans for higher education, overseas transfers for fees, and foreign housing for students.
About Leverage Edu
Akshay Chaturvedi established Leverage Edu in 2017. It is the top platform for students from India, Nigeria, Nepal, and other developing nations to apply to institutions overseas. Leverage Edu uses an “outcome-focused counselling” methodology that takes student achievement and employability into account.