Leverage Edu’s revenue jumps over 2X to Rs 364 Cr in FY26; turns EBITDA profitable

Leverage Edu, which helps Indian students secure admissions to overseas universities, more than doubled its operating revenue in FY26 as it expanded its international presence. The Delhi-based company also turned EBITDA-positive during the year, while its net losses narrowed 82% year-on-year to Rs 19 crore.

The edtech startup’s operating revenue more than doubled to Rs 364.4 crore in FY26 from Rs 173.3 crore in FY25, according to its consolidated financial statements filed with the Registrar of Companies (RoC).

Founded by Akshay Chaturvedi in 2017, Leverage Edu helps students navigate the overseas education process, from university selection and admissions to education financing. The platform caters to students across India and international markets, with access to universities in the UK, US, Canada, Germany, Japan and Dubai.

Student placement services remained Leverage Edu’s largest revenue stream in FY26, contributing 77% of operating revenue as the segment grew 2.3 times year-on-year to Rs 281.8 crore, supported by the company’s expansion into new markets.

Its Fly business, launched in late 2022 to provide financial services to students going abroad, also gained traction, with revenue doubling to Rs 59.6 crore. The segment earns commissions from education loans, foreign exchange and student accommodation services.

Leverage Edu further generated Rs 21.3 crore from product sales and Rs 9.1 crore from other operating and non-operating income, taking its total income to Rs 371.9 crore in FY26.

International markets contributed over 81% of Leverage Edu’s total revenue in FY26, with revenue from these markets rose 2.3X year-on-year to Rs 297 crore. India accounted for the remaining 18.5%, with revenue from the domestic market growing 60% to Rs 67.4 crore.

Commission paid to agents and other partners emerged as Leverage Edu’s largest expense in FY26, which surged 2.2X year-on-year to Rs 114 crore. These costs accounted for nearly 29% of its total expenditure and reflect the role of external partners in its student placement business. Employee benefit expenses increased 14.1% to Rs 73 crore, while subscription and membership fees surged to Rs 67 crore from Rs 11.8 crore in FY25.

On the other hand, advertising expenses declined 24.2% to Rs 45.3 crore, while the cost of materials fell 4.1% to Rs 20.75 crore. 

Cost of materials, IT, legal professional, rent, depreciation, and other overheads took its total expenditure up by 39% to 39.4% to Rs 390.8 crore in FY26 from Rs 280.4 crore in the previous fiscal year.

At the bottom line, the Blume Ventures-backed company narrowed its losses by 82% to Rs 19.4 crore in FY26 from Rs 105.7 crore in FY25. Higher commission payouts to external partners appear to have paid off, as operating revenue more than doubled during the year. Along with cost optimisation, this helped the company improve its financial performance.

Leverage Edu also turned EBITDA-positive in FY26, with an EBITDA of Rs 2 crore against a loss of Rs 83 crore in the previous fiscal year. Its EBITDA margin improved to 0.49%, while ROCE stood at -15.8%. At a unit level, the company spent Rs 1.07 to generate every rupee of operating revenue. As of March 2026, it had current assets of Rs 160 crore, including Rs 31 crore in cash and bank balances.

Leverage Edu has raised nearly $90 million in funding to date, including a $40 million Series C round in July 2023 led by Blume Ventures and DSG Consumer Partners. The company is currently valued at around $300 million.

Leverage Edu’s improved financial performance comes as the company reportedly plans to go public b. According to an Inc42 report published in April 2026, the company is eyeing an IPO worth Rs 2,000-3,000 crore through a combination of a fresh issue and an offer for sale (OFS).