Leap Finance, founded by IIT-KGP alumni, raises $5.5 million from Sequoia Capital
livemint (March 3, 2020)
Leap raises $5.5 million in new round led by Sequoia India
Leap Finance is looking to finance 1,000 students in the upcoming fall season
The company's technology-enabled platform enables students to apply online and get a financing offer in less than 10 minutes
MUMBAI: Leap Finance, a fintech startup for Indian students pursuing international higher education, on Tuesday said it has raised $5.5 million led by venture capital firm Sequoia Capital India Advisors. The round also saw participation from angel investors, including Bhupinder Singh, founder of consumer lending firm InCred; and Kunal Shah, founder of credit card payment startup Cred.
Founded in 2019 by IIT-Kharagpur alumnus Vaibhav Singh ('08) and Arnav Kumar ('10), the startup offers loan products and services that help Indian students pursue overseas education. It is currently accepting applications from students starting graduate studies in the US in the upcoming fall season (2020), offering them education loans that cover full study cost coverage with no collateral, at interest rates starting at 8%. (Read More)