Leap Finance, a Bengaluru-based fintech startup catering to the international students, who are Indian citizens, by providing educational loans and credit card services, has bagged US$ 55 million in a Series C funding round led by Owl Ventures on 8 September 2021.
Investors: The latest investment round featured Owl Ventures as the lead investor with participation from Jungle Ventures, Sequoia Capital India, and Harvard Management Company. The startup has managed to raise approximately US$ 75 million, in total, to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the recent funding round towards supporting its multidimensional growth plans, expanding its services to students across Southeast Asia, North America and the Middle East, and widening its product portfolio to introduce new innovative services.
About Leap Finance
Brought to existence in 2019 by Arnav Kumar and Vaibhav Singh, Leap envisions aiding the international students in financing their education. The company operates a million-member robust group of ambitious South Asian students who aspire to receive international education. The startup has financially assisted more than 60,000 international students in the past one and a half years. Its services include professional admissions counselling, student loans, international test preparation, international career guidance, international student bank accounts, and foreign currency remittance. The firm is also planning to introduce new products such as insurance schemes and an international student credit card.
What the Founder has to say: “We have a unique community-led tactic along with an innovative product which meets the requirements of prospective international students. We have experienced a surge in demand for our services in recent times. Our projection estimates that more than 1 million students will go abroad in the coming year to pursue higher education. As a result, our organization is perfectly poised to serve a vast majority of those students.”- Vaibhav Singh, Co-Founder of Leap Finance.
What the Investors have to say: “Leap Finance’s commitment towards exploiting the modifications in the fintech and edtech domains is impressive. It aims to offer a foreseeable, high-end and transparent student experience.”- Amit Anand, Founding Partner of Jungle Ventures. “Since its inception, Leap Finance has shown significant agility by expanding its services to cater to numerous student requirements. Leap Finance’s platform has great potential to lead the industry and serve financially weaker students in attaining further education from abroad.”- Ashish Agrawal, Managing Director at Sequoia Capital India.
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