Friday, 7 June 2024, Bengaluru, India
Levrage.biz is an Edtech startup offering a study abroad platform Leverage Edu, Fly Homes, and Fly. Finance. The startup reported completing its second ESOP buyback exercise, which benefitted over 50 employees who signed up for this startup function. The amount of stock buyback is still unknown.
Innovated by Akshay Chaturvedi, this startup provides counseling, admission support, and financing services to students studying abroad or wanting to pursue international education. The platform focuses on students from India, Nepal, and Nigeria. Leverage.Biz helps students figure out their interests to realize their full potential. The platform offers personalized mentors and counselors according to students’ needs. The interactive tutoring platform allows students to learn and clear doubts in real-time.
The company previously secured $40 million in its debt and equity round, led by Educational Testing Service. The startup has raised $70 million from all its rounds and is valued at $140 million. The startup data intelligence platform The Kredible mentioned Blume Ventures as the largest stakeholder in Leverage Edu, with a 16.9% stake, followed by DSG Consumer Partners and Tomorrow Capital.
Leverage.Biz claims to have over 120 million users with 700+ university partners and more than 45,000 registered students. The platform offers the best solutions to its users by using advanced technologies. The company reported an increase in its operating revenue by 228% to Rs 69 crore in FY23; however, the losses also increased by 70% to Rs 103 crore for this fiscal year. The ESOP buyback increased and reached $802 million in 2023; it increased 4 times compared to $200 million in 2022. Some other startups, including MyGate, Meesho, Urban Company, Classplus, The Sleep Company, and Pocket FM, also completed their ESOP buyback exercise this year.
Conclusion
Edtech startup Leverage.biz reported that it had completed its second ESOP buyback scheme. The technology used by this startup is to provide personalized learning and counseling experiences. The company uses cutting-edge technology to offer the best learning experience. The company claims to provide the best solutions to its users by leveraging the new-age technologies. The startup reported completing its second ESOP buyback exercise, which benefitted over 50 employees who signed up for this startup function. The amount of stock buyback is still unknown.
Leverage.Biz provides admission support, counseling, and financing services to students studying abroad or wanting to pursue international education. The amount of stock buyback is still unknown. Blume Ventures is the largest stakeholder of Leverage Edu, with a 16.9% stake, followed by Tomorrow Capital and DSG Consumer Partners. The startup has raised $70 million from all its rounds and is valued at $140 million. The platform uses various technologies to offer its users a variety of courses and a seamless learning experience.
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