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Study abroad platform Leverage has raised an undisclosed amount in a funding round led by the Thailand-based family office of Aloke and Suchitra Lohia.
The funding announcement comes almost three months after it reportedly bagged $40 million from Educational Testing Service (ETS), an educational testing and assessment organization.
How would Leverage utilize the funding?
Leverage, which owns different verticals like Leverage Edu, Fly.finance and Fly Homes, will focus on expanding its presence in the Southeast Asian market, primarily focusing on Thailand, where it plans to establish an office in Bangkok to manage operations.
Additionally, The funding would enable the startup to expand offerings to more students from emerging economies in the region.
Leverage Edu said it wants to tap into the growing number of Thai students who go to study abroad. The partnership with Suchitra Lohia would allow the startup to target 1 Lakh Thai students looking to study abroad.
What would be the focus on Leverage?
According to Leverage Edu founder and CEO Akshay Chaturvedi, who is also an angel investor in several startups, The edtech startup will focus on providing English language training to Thai students.
“Problems like lack of sufficient English language training will be our priority to solve in Thailand as we enter one of Southeast Asia’s most promising markets. We are looking to set up an office in Bangkok, where the family has a deep understanding of (the) Thai ecosystem, and can support us,” Leverage Edu founder and chief executive officer (CEO) Akshay Chaturvedi said.
Suchitra Lohia said, “We are thrilled to be partners on this journey with Leverage Edu, a pioneer in Student Mobility. The family believes in supporting ventures that create positive societal impacts. Leverage Edu’s innovative approach resonates deeply with our values, and we are excited to contribute to their mission.”
What are the offerings of Leverage Edu?
Founded in 2017 by Akshay Chaturvedi, The edtech startup offers full-stack services to international students, including counselling, application-admission support, money transfer, accommodation, and financing to students pursuing education.
In September 2021, Leverage Edu raised an undisclosed amount of growth capital from Paytm founder Vijay Shekhar Sharma, Oyo India and, Southeast Asia CEO Rohit Kapoor and others. In the same year, the startup also raised $6.5 million in a funding round from Tomorrow Capital, joined by existing investors Blume Ventures and DSG Consumer Partners.
Leverage Edu competes with Leap Scholar, an edtech startup that also caters to students preparing for exams, including the International English Language Testing System (IELTS), TOEFL, Scholastic Aptitude Test (SAT), etc.
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