Indian overseas education financier Leap raises $17m led by Jungle Ventures

Leap Finance Founders. (LtoR) Vaibhav Singh, Arnav Kumar.

Leap Finance, a fintech platform for Indian students pursuing international higher education, has raised $17 million in a Series B funding round by Singapore-based Jungle Ventures, per a company announcement.

The financing also saw the participation of Sequoia Capital India and Owl Ventures, the startup said in a statement.

The latest funding comes less than a year after Leap Finance raised $5.5 million led by Sequoia Capital India, taking the total capital raised to $22.5 million.

Launched by IIT Kharagpur graduates Arnav Kumar and Vaibhav Singh in 2019, Leap plans to use the new capital to expand its product portfolio. It plans to further strengthen its team across technology and business functions, and expand geographically and grow its student communities aggressively. The company will also establish global offices for institutional partnerships and other business functions.

“India has the largest pool of STEM-educated, English-speaking graduates, and millions of them want global degrees and careers. This is a big decision and there is a real need for accurate information and expert guidance. Our online community helps students evaluate career options, network with seniors, and shortlist the best courses. We then use this data to offer personalised test prep, professional counselling services, visa guidance, and financial products,” Kumar said.

Leap Finance claims to offer zero collateral, full cost of study, dollar loans to Indian students pursuing international education in the US. It is building a one-stop platform for study abroad aspirants and international students.

Since inception, Leap has already expanded its product suite to Canada, UK, and Australia. The startup claims to have helped over 20,000 students in their study abroad journey in the past year and aims to serve 150,000 students in the current year.

“Leap marks our first investment in the edu-tech space. India is the second-largest market globally for overseas enrolment, and in just a decade overseas higher education annual enrolments from India are up more than 300%. In addition, South East Asian markets such as Vietnam, Indonesia, Malaysia are also large contributors to overseas education. This presents a huge opportunity in an otherwise fragmented landscape,” said Jungle Ventures founding partner Amit Anand.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.