Crizac Enhances Student Mobility with Investment in ForeignAdmits

Crizac, a prominent student mobility platform, has made a strategic investment of approximately Rs 1.25 crore in ForeignAdmits, securing a 37.41% stake in the company’s fully diluted share capital. This investment is realised through Compulsorily Convertible Debentures (CCDs) and Compulsorily Convertible Preference Shares (CCPS).

Investment Benefits for Crizac

The investment is projected to significantly strengthen Crizac’s capabilities as it supports students and counselling partners during key stages of the study abroad journey. This includes crucial areas such as destination selection, education financing, and visa preparation.

ForeignAdmits’ Innovative Technology

ForeignAdmits showcases a proprietary technology stack that includes LoanMonk, an engine for pre-admission loan eligibility that has successfully completed over 80,000 assessments with 17 lending partners. Another core feature is VisaMonk, an AI-driven simulation tool for visa interviews currently used by more than 3,000 students worldwide.

Leadership Changes

As a part of this transaction, Nikhil Jain, founder and CEO of ForeignAdmits, will become a member of Crizac’s senior leadership team, taking on the role of Chief Product and Marketing Officer. He will be responsible for the product strategy and consumer brand of the integrated platform.

About Crizac and ForeignAdmits

Crizac operates as a B2B international student recruitment platform that links a worldwide network of education agents with over 400 institutions in the UK, Canada, Ireland, Australia, and New Zealand. On the other hand, ForeignAdmits is an AI-centric student mobility platform providing essential infrastructure for university discovery, admissions, education financing, and visa preparation.

Achievements of ForeignAdmits

ForeignAdmits has had a significant impact, aiding over 100,000 students across more than 15 countries. The platform collaborates with over 800 partner consultancies, has facilitated education loans exceeding Rs 1,500 crore, and has supported more than 3,000 students in their visa preparation journeys.