Leap raises $55 Million in Series C funding round led by Owl Ventures
Bangalore based Leap, the startup that enables students to study overseas has raised $55 million in a Series C funding round led by Owl Ventures on Wednesday. Harvard Management Company, existing investors like Sequoia Capital India and Jungle Ventures also participated in the round.
With the new funding, leap is planning to expand to serve international markets including the Middle East and Southeast Asia and help the students pursue higher education in 20 nations, said Kumar, who previously worked as an associate vice president at venture fund Elevation Capital.
“Leap is on the trajectory to become the preeminent study abroad platform for students. The overseas education market is fragmented where there is no single one-stop solution,” said Amit Patel, Managing Director of Owl Ventures, in a statement.
He further added, “It can be very confusing for students to know where to begin preparation, what colleges they should target, and how they are going to afford to pay for their education. Leap is creating a comprehensive platform that addresses all of these preparation and financing needs for students. Owl Ventures is excited to deepen our partnership with Vaibhav, Arnav, and the Leap team to make studying abroad a reality for as many students as possible.”
Founded by Arnav Kumar and Vaibhav Singh, Leap is a two-year-old startup with headquarters in San Francisco and Bangalore. The startup is helping students in India to find the right college abroad, prepare for entrance tests, and also secure visas and loans.
“The desire for Indian students to study abroad is stronger than ever,” said Ashish Agrawal, Managing Director at Sequoia Capital India.
An Indian student studying in the U.S borrows money at an interest rate that is twice what their local peers are charged. Leap is granting loans to such students at a fair interest rate. The startup is also expanding its offerings to provide a broader infrastructure to enable students to pursue international higher education.
Leap also held a Series B funding round in March this year which brings its all-time raise to over $75 million.
Leap has helped over 60,000 students to study abroad over the last 18 months. Its community has grown, the test preparation app is increasingly becoming popular, and its core financial services has also surged, said Kumar, former associate vice president at venture fund Elevation Capital.
With the new funding, leap is planning to expand to serve international markets including the Middle East and Southeast Asia and help the students pursue higher education in 20 nations, said Kumar, who previously worked as an associate vice president at venture fund Elevation Capital.
“Leap is on the trajectory to become the preeminent study abroad platform for students. The overseas education market is fragmented where there is no single one-stop solution,” said Amit Patel, Managing Director of Owl Ventures, in a statement.
He further added, “It can be very confusing for students to know where to begin preparation, what colleges they should target, and how they are going to afford to pay for their education. Leap is creating a comprehensive platform that addresses all of these preparation and financing needs for students. Owl Ventures is excited to deepen our partnership with Vaibhav, Arnav, and the Leap team to make studying abroad a reality for as many students as possible.”
Founded by Arnav Kumar and Vaibhav Singh, Leap is a two-year-old startup with headquarters in San Francisco and Bangalore. The startup is helping students in India to find the right college abroad, prepare for entrance tests, and also secure visas and loans.
“The desire for Indian students to study abroad is stronger than ever,” said Ashish Agrawal, Managing Director at Sequoia Capital India.
An Indian student studying in the U.S borrows money at an interest rate that is twice what their local peers are charged. Leap is granting loans to such students at a fair interest rate. The startup is also expanding its offerings to provide a broader infrastructure to enable students to pursue international higher education.
Leap also held a Series B funding round in March this year which brings its all-time raise to over $75 million.
Leap has helped over 60,000 students to study abroad over the last 18 months. Its community has grown, the test preparation app is increasingly becoming popular, and its core financial services has also surged, said Kumar, former associate vice president at venture fund Elevation Capital.
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