Leverage Edu Raises $2 Million in Venture Debt from Trifecta Capital
New Delhi: New Delhi-based Foreign University admissions platform, Leverage Edu has raised $2 million in a debt financing round from venture debt firm Trifecta Capital. The funds will be utilized to fuel the company’s growth and make further inroads into the interiors of India, apart from accelerating product innovation in line with their student-first approach.
With the closure of this round of investment, Leverage Edu has so far raised over $10 Million, with this being the company’s first debt raise.
Earlier this year, the company had raised $6.5 Million as part of its Series A funding, which was led by Tomorrow Capital and backed by existing investors Blume Ventures and DSG Consumer Partners.
Leverage Edu also counts prominent angels like Goqii founder Vishal Gondal, Saama Capital managing partner Ash Lilani, and Pine Labs chief executive Amrish Rau among its other investors.
“Rahul & I first met when I was raising our 2 crores round about 3 years back. Over the years, he’s been super helpful – so when the opportunity arose for our business to raise venture debt, it had to be Trifecta! I am very excited to begin this relationship with the Trifecta Capital team.
Leverage Edu’s business model has a great debt use case especially now when we are increasingly growing deeper in every region of India. In the past year, apart from metro cities, Leverage Edu has penetrated in the non-metro markets as well which now contributes to 60% of our customer base. This debt round will help us in building further towards this objective through relevant product and resource investments and thus emerge as a truly pan-India service.”, said Akshay Chaturvedi, Founder & CEO, Leverage Edu.
As India’s leading alternative financing platform, Trifecta Capital has supported over 75 emerging companies over the last 6 years including companies like BigBasket, Pharmeasy, UrbanCompany, Cars24, Vedantu, Daily Hunt and Livspace among others.
“Leverage Edu is on a mission to democratize access to overseas education. It has scaled rapidly and has access to a global University network spanning four continents. In the increasingly competitive ed-tech sector, Leverage Edu has a unique end-to-end offering to help students achieve their foreign education goals. We believe Leverage Edu is well on its way to cementing its leadership in the digital-first student immigration segment and are excited to partner with Akshay and the Leverage Edu team going forward”, said Rahul Khanna, Co-Founder & Managing Partner at Trifecta Capital
Besides this, Leverage Edu has recently been in the news for having announced India’s largest study abroad scholarship program worth ₹5,00,00,000 to help Indian students planning to study overseas for the upcoming academic intakes.