Edtech startup Leap raises $75M in Series D round

Leap Scholar, an edtech business with operations in San Francisco, Bengaluru, and Singapore, revealed on Wednesday that it had raised $75 million (Rs 585 crore) in a Series D fundraising round that was primarily led by Owl Ventures.

Along with previous investors Jungle Ventures and Sequoia Capital India, new investors Steadview Capital and Paramark Ventures also participated in the round.

Since its beginning, the firm has raised over $150 million in stock. It received $55 million in funding from a Series C round of investors led by Owl Ventures in September 2021.

Commenting on the latest funding Vaibhav Singh, Co-founder of Leap, said, “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.”

Founded in 2019 by Vaibhav Singh and Arnav Kumar, Leap—which runs LeapScholar, LeapFinance, and Yocket—is a full-stack international student mobility platform. The startup 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 test prep for exams including IELTS, TOEFL, SAT, etc, admissions and visa counselling, as well as financial offerings like international student loans, international bank accounts, credit cards, and money remittance services.

Amit Patel, Managing Director, Owl Ventures, added, “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.”

As per the startup, it used a holistic end-to-end approach to help over 175,000 students in their study abroad journey in the past 12 months.

Arnav Kumar, Co-founder of Leap, shared, “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.”

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