Leverage Edu, a startup facilitating study abroad opportunities, experienced a significant widening of its loss by 118%, reaching INR 102.8 crore in the financial year 2022-23 (FY23), compared to INR 47.1 crore in the preceding fiscal year. This increase in loss can be attributed to the company’s escalating expenses, which align with its expanding operations.
In FY23, the startup witnessed a remarkable 3.3X surge in operating revenue, amounting to INR 68.9 crore, as opposed to INR 21 crore in the previous fiscal year.
Established in 2017, Leverage Edu aids students in applying to foreign universities through its study abroad platform. It offers courses through three apps: Study Abroad With Leverage Edu, LeverageIELTS, and the recently launched LeverageTOEFL.
Furthermore, the startup’s total revenue, inclusive of other income, reached INR 70.8 crore in FY23, compared to INR 21.4 crore in the previous fiscal year.
