Study abroad startup Leverage Edu has entered the South American market with the acquisition of Brazil-based international education company Mundus Agency, sources told Inc42.
Leverage Edu confirmed the acquisition to Inc42, saying that Mundus Agency helps students pursue higher education opportunities abroad. However, it did not disclose the financial details of the deal.
Prior to the acquisition, Leverage Edu had a presence across South Asia, Africa and the Middle East. India currently accounts for 50-55% of the startup’s revenue, followed by Africa at 25%, while South Asia and the Middle East contribute about 10% each.
The acquisition marks Leverage Edu’s first international buyout as it looks to expand its global footprint. Going ahead, the startup plans to aggressively pursue acquisitions in both domestic and overseas markets.
Brazil is among the world’s fastest-growing outbound student markets. According to industry estimates, nearly 90,000 Brazilian students pursue higher education overseas each year, a figure that has increased by about 50% since 2017.
It is pertinent to note that Brazil’s overseas diaspora has grown to nearly 50 Lakh people, comprising students, skilled professionals and healthcare workers, making it an attractive market for study-abroad and talent mobility services.
The acquisition also comes at a time when Leverage Edu is preparing for an IPO in India. The startup has initiated discussions with investment bankers as it eyes a public listing next year.
Earlier, sources told Inc42 that the startup’s IPO could be in the range of ₹2,000-3,000 Cr and comprise both fresh issue of shares as well as an offer-for-sale (OFS) component. The breakup between the fresh issue and OFS will be decided later, the sources added.
Leverage Edu is eyeing a valuation of over $900 Mn for the IPO. Earlier this year, Inc42 also accessed some of the pitch decks prepared by the bankers for Leverage Edu. The bankers are positioning Leverage Edu alongside platform startups such as Zomato and ixigo, with expectations of similar valuation multiples.
On the financial front, Leverage Edu claimed it turned EBITDA profitable in FY26. Its operating revenue zoomed 112% to ₹375 Cr in FY26 from ₹173 Cr in the previous year.
The startup said its horizontal stack, spanning fintech, accommodation, travel, and career support, now accounts for 25-33% of its total revenue. It claims to have added over 55,000 students to its user base in the previous fiscal, taking its total customer base to over 1.75 Lakh.
The post Exclusive: Leverage Edu Forays Into South America With Acquisition Of Mundus Agency appeared first on Inc42 Media.
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