Edtech startup CollegeDekho acquires Scholarship Facilitation Services for an undisclosed amount
Gurugram-based edtech startup CollegeDekho has announced the acquisition of Delhi-based student’s guidance overseas business - Scholarship Facilitation Services Pvt. Ltd. (SFS) for an undisclosed amount. Through this acquisition, CollegeDekho is aiming to broaden its students counseling services to help a larger population of students go abroad.
Started in 2012 by Manik Kubba, Umesh Sharma and Vikaas Wahi, SFS offers need-based, budget and university-based admission counseling services, along with complete admission services to an international university of their choice.
In a statement CollegeDekho said that the acquisition will open up great avenues for students interested in studying abroad, and that SFS and CollegeDekho together has the potential to provide its product offerings in many other countries apart from India.
Speaking about the acquisition, Ruchir Arora, Co-Founder and CEO, CollegeDekho, said:
"With this acquisition, we get the bandwidth for a much larger geographical coverage internationally. CollegeDekho’s technology will help in expanding the product portfolio, thus catering to a wider audience.”
CollegeDekho’s study abroad business started operation in 2017, and the company claims to have already assisted students for admission in countries like Canada, Philippines, Germany, Ukraine, and Russia. It says this acquisition will further strengthen CollegeDekho’s reach to students who are looking to study in USA, Europe, and the South East Asian markets.
Manik Kubba, Co-Founder and CEO, Scholarship Facilitation Services, said,
“In the last few years, India has witnessed a rise in the cost of education in India, thus blurring the boundaries between domestic and foreign higher education. As these numbers grow, along with the aspirational value of a foreign degree, there is a need for an edtech company that can bridge the divide between domestic and foreign higher education. For a strong and renowned edtech company, these circumstances are just about right to enter and merge with a proven player in the foreign education domain."
Both CollegeDekho and SFS are aiming to increase their satellite test preparation and counseling centres to more than 25 by 2020.
(Edited by Megha Reddy)