Leverage Edu posts Rs 106 Cr loss on Rs 173 Cr revenue in FY25

Leverage Edu, which helps Indian students secure admissions to global colleges, recorded over 90% year-on-year growth in its operating scale in the fiscal year ending March 2025. However, this rapid expansion came at a price, as the Delhi-based company’s losses widened 56% year-on-year to cross the Rs 100 crore threshold.

Revenue from operations for the edtech startup jumped 91% to Rs 173 crore in FY25 from Rs 90.6 crore in FY24, its consolidated financial statements filed with the Registrar of Companies show.

Founded in 2017 by Akshay Chaturvedi, Leverage Edu provides counseling, admissions, and financing support for students pursuing international education. It serves students from India and other countries, helping them secure admissions to universities in the UK, US, Germany, Canada, and Dubai.

Student placement services accounted for 70% of Leverage Edu’s total operating revenue in FY25, compared to over 90% in FY24, and grew 65% year-on-year to Rs 120.6 crore.

The company also generated Rs 29.7 crore from its Fly business, launched in late 2022, through which it offers financial services to students pursuing education abroad. This revenue includes commission income from facilitating student loans, foreign exchange, and accommodation arrangements. Earnings from the segment more than doubled in the last fiscal year compared to FY24.

Leverage Edu also earned Rs 21.2 crore from the sale of products and generated Rs 4.9 crore from other operating and non-operating sources, which pushed its total income to Rs 177 crore.

India contributed nearly 76% of the total revenue, while international markets accounted for 24%. In contrast, in FY24, international sources had contributed 78.5% of the operating revenue.

On the cost front, employee benefits remained the largest cost centre and accounted for nearly 23% of total expenses at Rs 64 crore. This expense grew marginally by 7% from Rs 60 crore in FY24. Meanwhile, advertising and promotional spending surged 2.2X to Rs 59.8 crore in the previous fiscal year and formed 21% of the firm’s overall expenditure.

Leverage Edu also spent heavily on commission paid to selling agents, which shot up 2.6X in FY25 to Rs 51.2 crore. Cost of materials, IT, legal professional, rent, depreciation, and other overheads took its total expenditure up by 73% to Rs 280 crore in FY25 from Rs 162 crore in FY24.

At the bottom line, the Blume Ventures-backed company’s losses surged 55% to Rs 106 crore in FY25 from Rs 68 crore in FY24, due to a sharp increase in advertising and marketing spends as well as higher commission payouts amid the scale-up of operations.

The company’s EBITDA loss widened to Rs 83 crore during the year. Its ROCE and EBITDA margin stood at -204.35% and -47.4%, respectively. On a unit level, it spent Rs 1.62 to earn a rupee. As of March 2025. Leverage Edu had total current assets of Rs 126 crore, which included Rs 34 crore in cash and bank balances.

Leverage Edu has raised approximately $70 million to date, including its $40 million Series C round raised in July 2023 from Blume Ventures, DSG Consumer Partners. It was last valued at around $140 million.