[Funding alert] Leap raises $55M in Series C round led by Owl Ventures
Leap, the startup that enables students to study overseas through financial and career assistance, has raised $55 million in Series C round of funding led by Owl Ventures.
The round also saw participation from Harvard Management Company, along with returning investors Jungle Ventures and Sequoia Capital India. Following this round, this startup has cumulatively raised over $75 million.
Leap said it will utilise this funding round to extend its services to students across SE Asia and MENA regions. Besides, it plans to broaden its product portfolio where it plans to offer international student credit card and insurance products.
On the funding received, Vaibhav Singh, Co-founder, Leap, said,
“We have seen an unprecedented demand from students to move abroad this year as international borders open post-Covid. Our community-led approach coupled with a comprehensive product suite for all international student needs is truly differentiated. Not surprisingly we have seen explosive growth.”
According to Vaibhav, a million plus students are expected to move abroad from this region in the next 12 months giving them a larger market opportunity.
Amit Patel, Managing Director, Owl Ventures, said,
“Leap is on the trajectory to become the pre-eminent study abroad platform for students. The overseas education market is fragmented where there is no single one-stop solution. Leap is creating a comprehensive platform that addresses all of these preparation and financing needs for students.”
According to the startup, it has a million-member community of international study aspirants in South Asia and has helped over 60,000 students in their study abroad journey over the last 18 months. The services of this startup include international test preparation, professional admissions counselling, student loans, international student bank accounts, foreign currency remittance, and international career guidance.
Leap co-founder Arnav Kumar said, “We are building products at the intersection of fintech and edtech for global education. In the last 12 months, we have identified and filled key gaps in the international students’ journey.”