Leap, an Indian startup that helps students pursue education abroad, has raised US$55 million in a series C round led by Owl Ventures.
Harvard Management Company also participated in the round, along with existing investors Jungle Ventures and Sequoia Capital India.
Leap co-founders Vaibhav Singh (left) and Arnav Kumar / Photo credit: Leap
Leap plans to use the fresh capital to extend its services to students across Southeast Asia as well as the Middle East and North Africa (MENA). The company also aims to add new services, including insurance and credit card products for international students, and to hire 500 more employees by the end of this year.
The two-year-old startup offers a wide range of services including test preparation, professional admissions counseling, student loans, career guidance, international student bank accounts, and foreign currency remittance, among others.
The company says it has served over 60,000 students in the last 18 months.
In March, Leap raised US$17 million in a series B round led by Jungle Ventures. Sequoia Capital India and Owl Ventures also participated in the round. To date, the startup has secured over US$75 million in funding.
“We expect [a] million-plus students from the region to move abroad in the next 12 months. This raise positions us perfectly to capture a lion’s share of that demand,” Leap co-founder Vaibhav Singh said in a statement.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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