Leverage Edu announces buyback of second ESOP benefit employes

leverage edu

Leverage.biz , which is parent company of study abroad platform Leverage Edu, Fly Finance, and Fly Homes. Today, Announced that it has completed its second ESOP buyback exercise. Over 50 employees of the company across functions were able to benefit from this exercise. However, the company did not disclose the amount of the stock buyback.

Leverage Edu provides full-stack services including counseling, application-admission support, and financing to students pursuing international education. It assists students from India, Nigeria and Nepal, among others. It is been 7 years by them working in this domain.

In July last year, Leverage Edu raised $40 million through a mix of debt and equity, led by Educational Testing Service (ETS). Till date  the company has secured approximately $70 million in funding across various rounds and was last valued at around $140 million.

According to startup data intelligence platform The Kredible , Blume Ventures is the largest external stakeholder in Leverage Edu with 16.9% followed by Tomorrow Capital and DSG Consumers Partners.

The company’s revenue from operations spiked 228% to Rs 69 crore in FY23 from Rs 21 crore in FY22 while its losses jumped 70% to Rs 103 crore in FY23 from Rs 47 crore in the previous year.

The total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million.

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