IPO · Education & Skilling

Leverage Edu initiates IPO talks targeting $900 Mn valuation

By Startup Enthusiast · 7 April 2026

What they do

Leverage Edu helps students apply to foreign universities through its app and embedded services

The company is preparing for an initial public offering with a target raise of ₹2,000 Cr to ₹3,000 Cr

Revenue doubled to ₹375 Cr in FY26 as the firm achieved profitability for the first time

Leverage Edu has initiated talks with global and domestic investment bankers regarding an initial public offering.
The company targets a listing window of 12-18 months from April 2026.
It aims to raise between ₹2,000 Cr and ₹3,000 Cr through a fresh issue combined with an Offer For Sale (OFS).
The IPO structure includes both new shares and existing shareholder sales, though the exact ratio remains undecided.
Investment bankers are pitching Leverage Edu alongside Zomato and ixigo as high-growth platform startups.
The company is targeting a pre-money valuation of approximately $900 Mn.
This valuation faces skepticism due to near-unicorn status and potential risks from tightening visa regulations.
Marketing spending poses a risk to eroding the company's slim EBITDA margins.

The diversified horizontal stack insulates revenue from university intake seasonality.
Tightening visa rules in the UK, Canada, and Australia could hurt the business.
Skepticism exists about the near-unicorn valuation given these risks.

Leverage Edu operates a core product that helps students apply to foreign universities.
The platform includes dedicated apps for Leverage Edu, Leverage IELTS, and Leverage TOEFL.
It offers a horizontal stack of fintech services, accommodation, travel insurance, and career support.
This horizontal stack accounts for 25-33% of the company's total revenue.
The business model embeds these additional services directly into the student application funnel.
The company serves a customer base totaling over 1.75 Lakh users.
It added more than 55,000 new users during the fiscal year 2026.

Blume Ventures (investor) — Venture capital firm.
DSG Consumer Partners (investor) — Investment firm focused on consumer businesses.
Kaizenvest (investor) — Investment firm.