Leap Finance closes $65-million Series E round led by Apis Partners

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Edtech platform Leap Finance has raised $65 million (approximately Rs 540-545 crore) in a Series E funding round led by London-based private equity firm Apis Partners. The round, which was a mix of primary and secondary transactions, also saw participation from existing investors Owl Ventures, Jungle Ventures and Peak XV Partners.

Founded in 2019, Leap, which runs LeapScholar, LeapFinance, GeeBee and Yocket, caters to Indian student perusing or wishing to peruse higher education abroad.  The platform offers international test prep such as IELTS, TOEFL and SAT, admissions and visa counselling as well as financial offerings like international student loans.

The San Francisco-incorporated and Bengaluru-headquartered firm last raised $75 million in its Series D round led by Owl Ventures with participation from Steadview, Paramark Ventures and others in June 2022. While the firm did not disclose its latest valuation, it was previously estimated at $850-900 million.

"We have witnessed 5x growth since our Series D two years ago. Today Leap is not only the study abroad platform of choice in India but is fast establishing itself as a global leader with scaling operations in 10+ countries. Building for the world from India is something we are
very proud of," co-founder Vaibhav Singh said.

Co-founder Arnav Kumar said Leap launched many industry-first products and experiences to make the student journey seamless. "Ensuring student success is why we exist and the AI revolution we are seeing today will allow us to continue to deepen our existing offerings at a faster pace than ever before," he said.

The firm claims to have catered to over a million students and partnerships with more than 1,000 educational institutions globally.

Matteo Stefanel, co-founder and managing partner, Apis Partners, said, “Leap is using technology to not only help students find and access the right educational opportunities but also equip them with the tools to succeed. As such, we believe Leap’s mission aligns closely with Apis’ commitment to driving financial inclusion.”