Study-abroad startup ASL raises $5 million funding from CSVP Fund, others
The UniAcco, UniCreds, and UniScholars brands are owned by the study-abroad platform Adventum Student Living (ASL), which also announced that it had secured $5 million in a bridging equity transaction led by new investor Cornerstone Venture Partners Fund (CSVP Fund). The company declined to provide the names of the returning investors that made up the other participants in the investment round. The business from Mumbai plans to raise $20 million in its Series B financing.
The firm, which was established in 2019, had previously secured $5 million in a round labelled pre-series B from investors including Vikas Phadnis, a co-founder of EuroKids, and Suresh Pareek, the founder and general director of the pharmaceutical company Ideal Cures.
What the funds will be used for- ASL, the recently injected capital will help the company increase the range of products it offers to better serve students, academic institutions, teachers, and administrators. Additionally, it will be utilised to strengthen relationships with the United States, Canada, Australia, the European Union, the United Kingdom, and the United Kingdom.
ASL is a comprehensive platform for student lifecycle management that uses a digital-first strategy to help students from application to accommodation. According to the website, more than 500,000 pupils have benefited from it thus far.
The foreign student education sector is approximately $200 billion, with tuition costs accounting for roughly 40% and lodging for around 25% of that total. According to the statement, over 6-7 million students worldwide migrate abroad for higher education. In terms of scope, the business claimed that UniScholars has successfully admitted students to more than 100 universities globally while offering counselling and support services.
“Its hyper-personalised approach ensures that a student remains on the platform throughout its educational journey of 4-5 years and potentially expands into their early career as well. Its enterprise pricing model, recurring revenues and profitable unit economics excited us to be a part of their journey,” Vatsal Bavishi, investment director, CSVP Fund, said.
Education loans and student beds- Through its banking and non-banking financial company partners, UniCreds, a branch of UniScholars, has facilitated over $100 million in school loans. Working with property owners, UniAcco, the second branch of UniScholars, provides an inventory of more than 3.5 million beds for students in the UK, EU, Canada, and Australia.
Our company soared through the market volatility and has since experienced an incredible 300% y-o-y growth, despite the economic difficulties caused by COVID-19, when many of our contemporaries were fighting for existence. We'll keep integrating student journeys across our platform and expanding our selection of products internationally. ASL's CEO and founder, Amit Singh, remarked.
ASL was formed by Sayantan Biswas, who had previously founded the branded rental homes startup Fella Homes, and Singh, a former banker with Standard Chartered Asset Management and Aditya Birla Sun Life Mutual Fund.
The firm, which was established in 2019, had previously secured $5 million in a round labelled pre-series B from investors including Vikas Phadnis, a co-founder of EuroKids, and Suresh Pareek, the founder and general director of the pharmaceutical company Ideal Cures.
What the funds will be used for- ASL, the recently injected capital will help the company increase the range of products it offers to better serve students, academic institutions, teachers, and administrators. Additionally, it will be utilised to strengthen relationships with the United States, Canada, Australia, the European Union, the United Kingdom, and the United Kingdom.
ASL is a comprehensive platform for student lifecycle management that uses a digital-first strategy to help students from application to accommodation. According to the website, more than 500,000 pupils have benefited from it thus far.
The foreign student education sector is approximately $200 billion, with tuition costs accounting for roughly 40% and lodging for around 25% of that total. According to the statement, over 6-7 million students worldwide migrate abroad for higher education. In terms of scope, the business claimed that UniScholars has successfully admitted students to more than 100 universities globally while offering counselling and support services.
“Its hyper-personalised approach ensures that a student remains on the platform throughout its educational journey of 4-5 years and potentially expands into their early career as well. Its enterprise pricing model, recurring revenues and profitable unit economics excited us to be a part of their journey,” Vatsal Bavishi, investment director, CSVP Fund, said.
Education loans and student beds- Through its banking and non-banking financial company partners, UniCreds, a branch of UniScholars, has facilitated over $100 million in school loans. Working with property owners, UniAcco, the second branch of UniScholars, provides an inventory of more than 3.5 million beds for students in the UK, EU, Canada, and Australia.
Our company soared through the market volatility and has since experienced an incredible 300% y-o-y growth, despite the economic difficulties caused by COVID-19, when many of our contemporaries were fighting for existence. We'll keep integrating student journeys across our platform and expanding our selection of products internationally. ASL's CEO and founder, Amit Singh, remarked.
ASL was formed by Sayantan Biswas, who had previously founded the branded rental homes startup Fella Homes, and Singh, a former banker with Standard Chartered Asset Management and Aditya Birla Sun Life Mutual Fund.
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