Leverage Edu is an Indian startup that helps students get into universities abroad. It was founded in 2017 by Akshay Chaturvedi. Here’s how it all began.
Akshay Chaturvedi started Leverage Edu with a clear mission: to help students from emerging countries like India, Nigeria, and Nepal access higher education opportunities abroad[2]. The idea was born when Chaturvedi was part of Draper University’s 2015 cohort, where he started a mentorship marketplace. This early start laid the groundwork for what Leverage Edu would become.
In the early days, Chaturvedi worked on the first version of the website while still in Bangalore, juggling another day job. By April 2017, Leverage Edu had started generating revenue by counseling its first student for university mentorship services[1]. This was a significant milestone, indicating that the concept was viable.
The vision was to make higher education accessible and simpler for students. Leverage Edu aimed to bridge the gap between students and international universities, providing a platform that was both user-friendly and comprehensive.
Akshay Chaturvedi is the founder and CEO of Leverage Edu. He has a strong background in education and entrepreneurship. Before starting Leverage Edu, Chaturvedi was part of Draper University, which gave him the exposure and skills needed to launch his own venture[2].
In 2020, Leverage Edu brought onboard Digvijay Gagneja as the Chief Operating Officer (COO). This addition to the leadership team helped in scaling the business and expanding its operations[1].
The founding team’s experience and network played a crucial role in securing funding and support from marquee investors like Blume Ventures, Trifecta Capital, and DSG Consumer Partners.
Leverage Edu has evolved significantly since its inception. Here’s a look at how it has grown and expanded its offerings.
Initially, Leverage Edu was a mentorship marketplace. However, it quickly expanded to become a full-stack career guidance and university connect platform. This transition involved launching several new platforms and services, such as Univalley for student engagement solutions, UniConnect for virtual education fairs, and LeverageLive for live classes focused on international education tests[2].
The platform now offers a wide range of services, from helping students find the right universities to preparing them for standardized tests. This comprehensive approach has made Leverage Edu a one-stop solution for students seeking higher education abroad.
By 2022, Leverage Edu had grown over 12 times in revenue between February 2021 and 2022, reaching an annualized revenue of $20 million. This growth was a testament to the company’s evolving business model and increasing market presence[3].
In July 2017, Leverage Edu raised its seed round of ₹2 crores, which was its first external capital. This funding helped the company scale its operations and expand its services[1].
In January 2018, Leverage Edu raised its first institutional round from Blume Ventures and DSG Consumer Partners. This funding was crucial for further growth and expansion[1].
By 2022, Leverage Edu had raised $22 million in Series B funding, valuing the company at around $120 million. This funding will help the company expand into new markets and enhance its financial services[3].
Leverage Edu has launched several products to support its mission. One notable product is the “Study Abroad with LeverageEdu” app, which was launched in 2022 and has already been downloaded over 50,000 times[3].
The company also offers UniConnect, a virtual education fair platform, and LeverageLive, which provides live classes for international education-focused standardized tests. Additionally, there is the AI Course Finder, which helps students find the right courses and universities[3].
Univalley is another platform that helps universities with student engagement solutions, further expanding Leverage Edu’s offerings in the education sector[2].
Leverage Edu’s technology infrastructure is a key component of its success. Here’s a look at its core platform architecture, security, and innovation.
Leverage Edu’s platform is designed to be user-friendly and efficient. It integrates various tools and services to provide a seamless experience for students. The platform allows students to search for universities, apply for courses, and prepare for standardized tests all in one place[2].
The architecture is scalable, allowing the company to handle a large volume of users and data. This scalability has been crucial in supporting the company’s rapid growth and expansion into new markets.
The platform also leverages AI to provide personalized recommendations and support to students. This includes the AI Course Finder, which helps students find the best courses and universities based on their preferences and qualifications[3].
Leverage Edu takes the security and privacy of its users seriously. The company has a robust security framework in place to protect user data and ensure compliance with relevant regulations. This includes encryption of sensitive data and secure authentication processes.
The company also adheres to international standards for data protection, ensuring that user information is handled responsibly and securely. This commitment to security helps build trust with its users and partners.
Leverage Edu is at the forefront of innovation in the education technology sector. The company’s use of AI and virtual platforms has set a new standard for how students can access higher education opportunities abroad. The “Study Abroad with LeverageEdu” app is a prime example of this innovation, making it easier for students to navigate the complex process of applying to international universities[3].
The company’s focus on virtual education fairs and live classes has also made it a leader in providing accessible and engaging educational content. This approach has helped Leverage Edu stand out in a competitive market and attract a large user base.
Leverage Edu’s commitment to innovation continues to drive its growth and expansion, as it explores new markets and develops new products and services to support its mission[3].
Leverage Edu, founded in 2017 by Akshay Chaturvedi, has made a significant impact in the education technology (EdTech) market. The platform is designed to help students from India and other emerging markets apply to universities abroad. Here’s how Leverage Edu has been making its mark.
Leverage Edu has seen remarkable growth in its user base. The platform hosts over 7.5 million students every month, which is a substantial number considering its relatively recent inception[6]. This growth can be attributed to the platform's user-friendly interface and the value it adds to students' educational journeys.
The company's recent launch of the ‘Study Abroad with LeverageEdu’ app has also contributed to this growth. The app has already garnered over 50,000 downloads, indicating a strong demand for the services Leverage Edu offers[6].
This user base growth is not just a number; it reflects the trust and reliance students have in Leverage Edu for their international education and career aspirations.
Leverage Edu has been expanding its market share by focusing on specific micro markets. Instead of trying to capture the entire country, the company identified 144 micro markets with the lowest cost per lead and highest conversion rates. This strategy has helped in reducing customer acquisition costs and increasing brand recall[7].
The platform's partnership with over 350 university partners worldwide further enhances its market presence. This extensive network provides students with a wide range of options for their higher education[6].
By targeting these micro markets and building strong partnerships, Leverage Edu has been able to establish a strong foothold in the study abroad market.
Leverage Edu has recently ventured into financial services, which is a significant step towards financial inclusion for students. The company has launched Leverage Finance, which includes services such as international remittances, education loans, and international bank accounts[9].
The focus on remittances has shown promising results, with a 100% month-on-month growth since the pilot phase. Leverage Edu aims to achieve a loan book of ₹1000 Cr in the next six months, which is a bold target reflecting their commitment to financial inclusion[9].
The education loans offered by Leverage Finance come with an industry-best interest rate of 8% p.a., making it more accessible for students to finance their education abroad[9].
Leverage Edu's financial journey has been marked by significant milestones, including revenue growth, efforts towards profitability, and substantial investment rounds. Here’s a closer look at their financial trajectory.
Leverage Edu reported a revenue of Rs 68.9 crore in FY23, which is a 228% surge from the Rs 21 crore earned in FY22. This threefold revenue growth indicates the company's increasing market presence and the value it is delivering to its users[8].
Despite the revenue growth, the company experienced a widening of losses due to higher expenses. The losses increased by 118.3% to Rs 102.8 crore in FY23 from Rs 47.1 crore in the previous financial year. However, this is a common phase for many growing startups as they invest heavily in expansion and service enhancement[8].
The revenue growth story of Leverage Edu is a testament to its successful business model and the demand for its services in the market.
Until FY22, Leverage Edu was burning a lot of cash to acquire new users and build value-added products. However, with the onset of the funding winter, the company shifted its focus towards a more sustainable data-led approach. This involved identifying micro markets with the lowest cost per lead and highest conversion rates, which helped in curbing customer acquisition costs[7].
The founder, Akshay Chaturvedi, emphasized the importance of creating incremental cash flows and not just focusing on profitability. This paradigm shift has been crucial in Leverage Edu's journey towards sustainability[7].
By focusing on specific markets and optimizing costs, Leverage Edu is working towards achieving long-term profitability.
Leverage Edu has secured significant funding to support its growth. In the last 18 months, the company has raised $62 million despite the challenging environment in the Indian EdTech ecosystem[7].
This funding has been instrumental in supporting Leverage Edu's expansion into new services, such as financial solutions, and enhancing its existing offerings. The company's valuation has reflected its growth and potential, making it one of the leading EdTech startups in India[7].
The investment rounds have also helped Leverage Edu in building a strong foundation for its future growth plans.
Leverage Edu's success is also attributed to its strategic partnerships, which have enhanced its services and expanded its reach. Here are some key partnerships that have contributed to the company's growth.
Leverage Edu has established API-level relationships with multiple banks to support its financial services. This collaboration has enabled the company to offer international remittances, education loans, and international bank accounts through its Leverage Finance platform[9].
The partnership with banks allows Leverage Edu to provide students with the best possible interest rates on education loans, which is currently at 8% p.a.[9].
This banking collaboration is crucial for Leverage Edu's financial inclusion initiatives and has helped in building trust with its users.
Leverage Edu partners with over 350 university partners worldwide. These partnerships provide students with a wide range of educational options and ensure that they get the best possible outcomes for their higher education[6].
Additionally, the company's partnerships with various educational institutions help in providing students with valuable resources and support throughout their educational journey.
These merchant partnerships are essential for Leverage Edu's core service offering and have been a key factor in its market success.
Leverage Edu leverages advanced technology to enhance its services. The company uses AI to power its Course/Job Finder, which helps students in making informed decisions about their careers and education[6].
The launch of the ‘Study Abroad with LeverageEdu’ app is another example of the company's technological advancements. This app has been well-received, with over 50,000 downloads, and it integrates seamlessly with Leverage Edu's other services[6].
These technology alliances have been instrumental in making Leverage Edu's services more accessible and user-friendly.
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