Leap Elevates Rajan Chaudhary to Co-founder Position

Edtech startup Leap has promoted its senior executive, Rajan Chaudhary, to co-founder of the company. Chaudhary has been a part of Leap for over five years.

In his most recent role, he held the position of assistant vice president (AVP) of engineering for approximately 18 months. During this time, he was instrumental in driving the technological advancements of the startup, enhancing its platforms, and advancing product innovation.

Vaibhav Singh, co-founder of Leap, expressed that Chaudhary’s promotion signifies the company’s commitment to fostering leadership from within, which positions Leap well for its forthcoming global expansion.

About Leap and Its Services

Founded in 2019 by Vaibhav Singh and Arnav Kumar, Leap operates several platforms including LeapScholar, LeapFinance, GeeBee, and Yocket. The company focuses on providing an online community for study-abroad aspirants, offering a wide array of services such as test preparation for IELTS, TOEFL, and SAT, as well as admissions and visa counselling. It also provides financial support options like international student loans. Leap primarily targets educational institutions in the US, Canada, UK, and Australia.

Expansion Plans and Partnerships

Leap has plans to widen its operations in the Middle East and Southeast Asia and boasts partnerships with over 1,000 international universities.

Financial Performance

The startup has successfully secured over $400 million in equity and debt funding from prominent investors such as Owl Ventures, Jungle Ventures, and Peak XV Partners. Leap’s operating revenue witnessed a significant growth of 113.7%, reaching Rs 174.92 crore in FY24, compared to Rs 81.86 crore in FY23. The company also managed to reduce its net loss by 72.3%, resulting in a loss of Rs 29.43 crore during the same period.

Competitive Landscape

Within its industry, Leap faces competition from major players including Auxilo, Avanse Financial, GryQuest, Financepeer, Propelld, Mpower Financing, and Eduvanz.