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Study Abroad Platform Leap Raises $65 Mn In Funding

Leap, a platform for students studying abroad, has raised $65 million in a funding round led by Apis Partners, a London-based private equity fund.

By Jitendra Das
New Update
Study Abroad Platform Leap Raises $65 Mn In Funding

Leap, a platform for students studying abroad, has raised $65 million in a funding round led by Apis Partners, a London-based private equity fund.

According to the company, about 80% of the capital raised in this round comes from new investors, including Apis Growth Markets Fund III and Apis Global Growth Fund III.

The round included both new and existing investments, with participation from existing investors like Owl Capital, Jungle Venture and Peak XV Partners. The valuation remained flat at $700-800 million.

The company plans to use the funds to improve its products with AI, support global expansion and make strategic acquisitions. The money may also be used to help students cover their moving costs.

The company also plans to use the proceeds to expand into China, Malaysia, and Taiwan, as well as strengthen its presence in Bangladesh, Sri Lanka, West Asia and Southeast Asia.

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Arnav Kumar, co-founder, Leap, said, "We are in the information industry. We help students access the best information and make the best decisions. It’s an information-dense industry, and we are seeing very rapid changes brought on by advances in AI. This money will help us take much bolder bets. It takes money to build these products, and AI talent is hard to find."

"We have now expanded to 10 international locations outside of India, and we are seeing a tremendous response and uptake there. So, we really want to double down on that, go much deeper, and open up more geographies for us, such as Indonesia and Malaysia," he said.

Udayan Goyal, cofounder and managing partner at Apis Partners said, “Embedded finance is a key investment theme for Apis which has the ability to transform lives. We have been very impressed with the rate at which Leap has already scaled since inception, serving thousands of students. This new partnership offers Apis an exciting opportunity to support Leap as it further expands its reach and continues to make a difference to its target demographics.”

“The pursuit of a global education is one of the biggest decisions students will make in their lifetime, and Leap has emerged as the trusted partner to provide comprehensive help as students navigate this incredibly complicated process,” said Amit Patel, managing director, Owl Ventures.

Leap raised $75 million in a funding round led by Owl Ventures in 2022, with participation from Steadview Capital, Paramark Ventures, Jungle Ventures, and Peak XV Partners. So far, the startup has raised over $200 million in total equity, including this latest round.

About Leap 

Founded in 2019 by Vaibhav Singh and Arnav Kumar, Leap is a platform that helps students with everything they need for studying abroad. It offers services like counseling, visa help, exam preparation, education loans and other support for international students.

The company is currently operating in 11 countries, including India, the Philippines, Vietnam, Bangladesh, Nepal, and Nigeria and plans to expand to more regions. Right now, over 80% of its revenue comes from India.

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