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Wednesday, June 19, 2024

Study-abroad startup Leap secures $75M in Owl Ventures led funding round

Leap has secured $75 million in a new funding round. The study-abroad startup raised the funds from Owl Ventures, and others.

Leap, a startup that helps students study abroad, has secured $75 million in a round headed by Owl Ventures, with participation from new investors Steadview Capital and Paramark Ventures, as well as current backers Jungle Ventures and Sequoia Capital India.

Leap has raised about $150 million in equity funding to far, including the most recent round. The San Francisco and Bengaluru-based business intends to use the capital to grow internationally, such as by releasing goods in Bangladesh and other Southeast Asian countries. In addition, the firm intends to aggressively invest in creative solutions within its present products.

Earlier this year, the firm expanded into the Middle East to assist students there with their study abroad plans. Leap is a full-stack international student mobility platform founded in 2019 by IIT-Kharagpur alumni Vaibhav Singh and Arnav Kumar.

Singh said, “We will also invest in and build a lending organization to give loans to students who want to study abroad. We intend to take this product worldwide.”

Leap operates brands such as LeapScholar, LeapFinance, and Yocket, which provide a suite of tools that span the lifecycle of an international student.

International test preparation examinations, admissions and visa counseling, as well as financial services such as international student loans, international bank accounts, credit cards, and money remittance services are all available.

“Through this holistic end-to-end approach to alleviating every pain point of an international student, Leap has assisted over 175,000 students in their study abroad journey in the last 12 months,” Singh added.

Over the next several years, more than five million students are likely to cross international borders to pursue their global goals, according to Singh.

In April, the firm announced a collaboration with Colorado State University to provide the university’s MCIS curriculum to Indian students in a hybrid multi-geography format.

Leap raised $55 million in September 2021 as part of its Series C fundraising round headed by Owl Ventures.

The round was also attended by Harvard Management Company Inc, Jungle Ventures, and Sequoia Capital India.


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