Study abroad platform Leverage Edu is set to raise around Rs 200 crore (over $20 million) in a mix of equity and debt as part of its Series D round, according to sources familiar with the matter. The equity portion of the round is being led by Dubai-based Aditum Fund, while the debt financing is expected to come from IDFC FIRST Bank, sources said. “The company is finalising a Rs 200 crore round comprising both primary equity and venture debt. The valuation is pegged at around $300 million,” said one source requesting anonymity. “Most of the documentation has been completed and the deal is expected to close soon.” Another source said the fresh capital will primarily be used to deepen Leverage Edu’s international expansion, strengthen its financial services vertical for students, and scale AI-led counselling and admissions products. Founded in 2017 by Akshay Chaturvedi, Leverage Edu helps students with overseas admissions, education financing, visa services, and test preparation. The startup has expanded its presence across key study-abroad destinations, including the UK, the US, Canada, and Australia. With this, Leverage Edu has raised nearly $90 million in funding to date, including a$40 millionSeries C round in July 2023 led by Blume Ventures and DSG Consumer Partners. The company was last valued at around $140 million, and the new round will more than double its valuation. The development also comes amid the company’s reported IPO ambitions. According to an Inc42reportpublished in April 2026, Leverage Edu is eyeing a public issue worth Rs 2,000–3,000 crore, comprising a mix of fresh issue and offer for sale (OFS). In FY26, the company claimed to havereportedrevenue of Rs 375 crore, a 112% year-on-year increase from Rs 173 crore in the previous fiscal year. As per the company, it also turned EBITDA-positive and generated cash during the year, aided by a global customer base of over 175,000 users. The study-abroad and cross-border education segment has witnessed renewed investor interest amid rising outbound student mobility from India. Leverage Edu competes with platforms such as Leap, Yocket, and upGrad Abroad. Queries sent to Leverage Edu did not elicit an immediate response. Aditum Fund and IDFC FIRST Bank also did not respond till press time. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
