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Vaibhav Singh Sequoia Capital and the Funding Round, ıf you’re reading this article, you’re probably wondering how Vaibhav Singh and his company got their money. We’ll discuss Vaibhav Singh, Sequoia Capital, and the Funding round. But first, let’s take a look at what he’s doing with his venture. What’s so different about his company? Why is it worth your time to check out the details?
Vaibhav Singh
Vaibhav Singh is an education finance veteran with over 12 years of international experience. He co-founded Leap Finance, India’s leading study abroad platform, with $22 million in funding from marquee investors. A graduate of the Indian Institute of Technology, Kharagpur, Vaibhav has experience from the private banking sector, where he spent time at Deutsche Bank in Hong Kong. Having joined the Indian fintech scene in 2014, Vaibhav Singh is well-positioned to help young people in their quest for global education.
A booming economy has given India a growing market for education loans. In fact, students from India spend about $10 billion on overseas study every year. Vaibhav Singh’s company has tapped into this market by offering loans for Indian students to pursue higher education in the United States, China, and other emerging economies. Currently, Leap offers loans to students from India and has plans to launch more in the near future.
While Vaibhav Singh and Arnav Kumar both come from a diverse background in financial services and consumer internet businesses, they were able to apply their knowledge and experience from both sectors to their venture. Together, they co-founded LEAP in 2019, with the aim of empowering students to pursue a global education at affordable costs. While the company’s vision is ambitious, its mission remains simple: “To empower young people to make the most of life, we are committed to empowering them to pursue their goals.”
Although the company’s mission is to provide education loans to students in the United States, Leap Finance also has an Indian lending arm that provides educational loans in the desired currency. In addition to the lending arm, Leap Finance also has a US presence that provides students with a 5% lower interest rate than conventional student loans. Vaibhav Singh and Arnav Kumar have been friends for 15 years, but both were initially unable to secure a loan, and decided to do it themselves.
MyMoneyMantra
The mission of MyMoneyMantra is to serve every Indian and have originated over $4 Billion in credit in the past five years. Founded in 1989, the company is headquartered in New Delhi, India. Its flagship company InCred leverages technology to make lending simple and offers a wide range of products. The company’s website also contains information about its founder and how he got started.
As India continues to rise as a global player, Indians are leading the world’s most influential companies. Increasingly, young Indians are pursuing careers across national and international borders. With the help of innovative financial products and services, Leap Finance supports India’s future global leaders. Their services include student loans, international test preparation, international student bank accounts, foreign currency remittances, and career guidance. The company is the largest network of international study aspirants in South Asia and has assisted more than 60,000 students in the past 18 months.
Sequoia Capital
The Silicon Valley-based venture capital firm Sequoia Capital has made an investment in Leap Finance, an online marketplace for student loans. The startup’s funding round also included Sequoia Capital India, Bhupinder Singh, Kunal Shah, and angel investors. Founded by Arnav Kumar and IIT Kharagpur classmate Vaibhav Singh, Leap Finance is based in San Francisco and Bengaluru.
The company aims to build a cross-border neobank by focusing on better training and low interest rates for students. The company currently supports more than 150 US colleges and universities, and aims to finance at least 1,000 students this year. While many companies are focused on low-interest loans, Leap Finance is different. The company offers loans with interest rates as low as eight percent and no collateral.
The company’s management team is comprised of veterans from consumer internet businesses and financial services. The company’s leaders have extensive experience working in North America, Europe, Asia, and Australia. The company’s investors include leading financial institutions and venture capital firms, and its founders have decades of experience in the finance industry. Despite the challenges, Leap Finance’s team is confident in its differentiated product, and its ability to fund loans.
The company offers education loans in dollars to Indian students studying abroad. The startup has raised more than $5.5 million in seed funding led by Sequoia Capital India and includes the founders of Cred and InCred, the consumer lending firm. The company also counts Kunal Shah and Bhupinder Singh. The company will use fresh capital to continue building its product and deepen existing offerings in the coming months.
Funding round
In a recent funding round, Leap Finance, a fintech platform for Indian students, raised $5.5 million from Sequoia India and leading angel investors. The startup is building a team of 25 people and plans to aggressively hire for its technology and capital markets teams. The company provides student loans without collateral at very low interest rates. The company is also hiring for its global expansion efforts.
The company’s mission is to help Indian students gain global experience through modern financial services. The company’s suite of products includes student loans, professional admissions counselling, international test preparation, international student bank accounts, and foreign currency remittance. The startup is growing fast and has helped over 60,000 students in the last 18 months. To learn more, visit leap.com. There is a wealth of information about Leap’s mission and plans.
The company is looking to expand its services to more students, including international students. In the US, Leap offers educational loans with no collateral at interest rates as low as 8%. The startup will initially accept applications from fall 2020 graduate students. The startup aims to finance 1,000 students this year. Currently, Indian students make up 25% of top graduate programs, but they are charged more than double what their American counterparts do.
In the past year, the startup has helped more than 20,000 students pursue higher education abroad. This year, it plans to reach a target of 1.5 lakh students. The company’s mission-driven team is one of the reasons why Vaibhav Singh and his team chose to partner with Leap. The company’s team focuses on serving students from developing nations and emerging markets. In addition to offering financial assistance, Leap also helps with visas, loans, and counseling.
Future plans
The startup has started with a limited service offering for students, underwriting loans based on their future income. But over the years, it has diversified and is now offering banking services in the USA and Canada. The company hopes to earn like a traditional bank, but through a digitised system. Further, future plans for Leap Finance may include offering international educational courses, as well as tie-ups with international educational institutions.
The team at Leap has a background in consumer internet businesses and financial services, as well as a diverse range of sectors. Vaibhav Singh has lived and worked in a variety of countries, including the U.S., Canada, Europe, Australia, and Asia. Vaibhav Singh will continue to grow the company with new ventures, as well as expanding it’s current services.
As a founding partner of Leap Finance, Vaibhav Singh has a background in engineering and education. He was inspired by the idea of building a fintech company that would provide educational loans in the currency of a student’s choice. Moreover, Leap Finance has a US-based lending arm that offers loans at lower interest rates than normal. And Vaibhav Singh has been in touch with Arnav Kumar for 15 years. Their long-term relationship has fueled their entrepreneurial spirit, and they have now decided to launch Leap Finance in 2019.
In March 2020, Leap Finance secured a seed round of $5.5 million from investment firm Sequoia Capital. Leap’s mission-driven team and the growing user base made the company attractive to investors. The company plans to invest this new funding into growing its user base, adding non-lending products to their product offering, and expanding to new markets. The company has plans to expand to Indonesia and Vietnam. We continue to produce content for you. You can search through the Google search engine.
