Leverage Edu: Strong Growth and Financial Performance in FY26

Leverage Edu, a platform designed to assist Indian students in gaining admission to universities abroad, significantly increased its operating revenue in FY26 as it broadened its global footprint. The Delhi-based startup also achieved EBITDA positivity during the same period, while reducing its net losses by 82% year-on-year to Rs 19 crore.

As per its consolidated financial statements submitted to the Registrar of Companies (RoC), Leverage Edu’s operating revenue surged more than twice to Rs 364.4 crore in FY26, up from Rs 173.3 crore in FY25. Founded in 2017 by Akshay Chaturvedi, Leverage Edu guides students through the complexities of overseas education, encompassing everything from choosing universities to securing education financing. The platform caters to students from India and other international regions, providing access to universities in countries such as the UK, US, Canada, Germany, Japan, and Dubai.

Revenue Sources for Leverage Edu

In FY26, student placement services continued to be the primary revenue source for Leverage Edu, making up 77% of its operating revenue as this segment expanded 2.3 times year-on-year to Rs 281.8 crore, aided by the company’s foray into new markets. Additionally, the Fly service, introduced in late 2022 to offer financial assistance to students, witnessed its revenue double to Rs 59.6 crore. This segment earns commissions from education loans, foreign exchange, and student accommodation services.

Leverage Edu also generated Rs 21.3 crore from product sales and Rs 9.1 crore from other income sources, resulting in a total income of Rs 371.9 crore in FY26. Over 81% of the company’s total revenue derived from international markets, which saw a year-on-year increase of 2.3X to reach Rs 297 crore. Meanwhile, the domestic market contributed 18.5%, with revenue witnessing a 60% rise to Rs 67.4 crore.

Expenses and Financial Metrics

In FY26, the highest expenditure for Leverage Edu was the commission paid to agents and other partners, which grew 2.2X year-on-year to Rs 114 crore. These expenses made up nearly 29% of the total expenditure, indicating the importance of external partners in the company’s student placement operations. Employee benefit expenses raised 14.1% to Rs 73 crore, whereas subscription and membership fees skyrocketed to Rs 67 crore from Rs 11.8 crore in FY25.

Conversely, advertising costs dipped by 24.2% to Rs 45.3 crore, and costs associated with materials saw a 4.1% decrease to Rs 20.75 crore. The combined expenditures for materials, IT, legal, rent, depreciation, and other overheads escalated total spending by 39% to Rs 390.8 crore in FY26, up from Rs 280.4 crore the previous year.

On the financial performance front, backed by Blume Ventures, Leverage Edu curtailed its losses by 82% to Rs 19.4 crore in FY26 from Rs 105.7 crore in FY25. The rise in commission payouts to external partners seemingly benefitted the company, allowing its operating revenue to more than double. This, along with cost optimisation efforts, contributed positively to the firm’s financial metrics.

EBITDA and Future Prospects

In FY26, Leverage Edu achieved EBITDA positivity, reporting an EBITDA of Rs 2 crore compared to a loss of Rs 83 crore in the preceding fiscal year. The EBITDA margin improved to 0.49%, while the Return on Capital Employed (ROCE) stood at -15.8%. At a unit level, the company incurred Rs 1.07 to generate each rupee of operating revenue. As of March 2026, Leverage Edu had current assets totalling Rs 160 crore, which included Rs 31 crore in cash and bank balances.

To date, Leverage Edu has secured nearly $90 million in funding, with a $40 million Series C round in July 2023 led by Blume Ventures and DSG Consumer Partners. The company’s valuation currently stands around $300 million.

As per reports, Leverage Edu’s impressive financial results coincide with plans for a public listing. An Inc42 report from April 2026 suggests that the company is considering an IPO worth Rs 2,000-3,000 crore through a mix of fresh issuance and an offer for sale (OFS).