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[Funding alert] Edtech platform Leap raises $75 mn in Series D round

[Funding alert] Edtech platform Leap raises $75 mn in Series D round

Leap, an overseas higher education startup, has raised $75 million in its Series D funding round from Owl Ventures.

New investors Steadview Capital and Paramark Ventures, along with existing investors Jungle Ventures and Sequoia Capital India, also participated in this round.

San Francisco-based Leap, which also has offices in Bengaluru and Singapore, was founded in 2019 by Vaibhav Singh and Arnav Kumar, it is an overseas higher education platform that runs LeapScholar, LeapFinance, and Yocket- a full-stack international student mobility platform.

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It runs an online community of overseas education aspirants with over two million students and offers a suite of products to cover their study life cycle.

These include international exam preparation for exams including IELTS, TOEFL, SAT, etc., admissions and visa counseling, as well as financial offerings such as international student loans, international bank accounts, credit cards and remittance services.

“Over the next couple of years, more than five million students are expected to cross the international border to fulfil their global dreams. With the backing of marquee global investors, we continue to march forward on our mission to democratize access to quality global education and make these dreams a reality”, said, Vaibhav Singh, Co-founder of Leap.

According to the startup, it used a holistic end-to-end approach to help more than 175,000 students travel abroad in the past 12 months.

The startup said more such innovative offerings are in the pipeline across its 750+ global university partners.

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The edtech company earlier this year expanded its presence in the Middle East to help students from the region study abroad.

“Having built the underlying infrastructure for global student mobility, we are now able to scale rapidly across multiple dimensions. We have launched many industry-first products and experiences to make the student journey seamless. Ensuring student success has been our mission and we will continue to deepen our existing offerings and launch newer ones in the months ahead”, says, Arnav Kumar, Co-founder of Leap.

“By simplifying an otherwise overwhelming process and helping students navigate all the steps of counselling, test-prep, and financing, Leap is well-positioned to support the increasing demand to go and study abroad as more countries and companies around the world are becoming further integrated into the global economy”, said, Amit Patel, Managing Director, Owl Ventures.

In September 2021, Leap had raised  $55 million in its Series C funding round from  Owl Ventures.

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Since it’s inception, the startup has raised over $150 million in equity so far.

“We believe Leap is well-positioned to take this platform globally and help students from all over the world to achieve their dreams”, said, Ravi Mehta, Founder and CIO, Steadview Capital.

“Jungle Ventures is proud to triple down on Leap with our third investment in two years since leading their Series B, as they have rapidly grown and become the leading all-in-one platform for emerging Asian students looking to study overseas. We believe overseas education is a large global market and a long-term trend and are committed to supporting the Leap founders and team to become the largest global study abroad platform,” said, Yash Sankrityayan, Managing Partner, Jungle Ventures.

About Leap

Leap Scholar aims to help build a network of bright Indian students looking for International education. Their vision is to assist future leaders in pursuing their international careers.

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