Noida-based Leverage Edu has bought Brazil-based Mundus Agency, its first acquisition outside India and its debut in the South American market. The deal gives the study-abroad platform a direct foothold in one of the world’s fastest-growing outbound education corridors, where nearly 90,000 Brazilian students head overseas for higher education each year, a figure that has climbed roughly 50% since 2017.
Financial terms of the transaction were not disclosed. Mundus Agency works with universities and institutions across multiple countries, specialising in student recruitment, admissions counselling, and university partnerships, capabilities that slot directly into Leverage Edu’s existing stack of study-abroad admissions support, financing, and accommodation services.
The timing is not incidental. Leverage Edu, founded in 2017 by Akshay Chaturvedi, Aman Arora, and Digvijay Gagneja, is preparing for a public listing in India and has already opened conversations with investment bankers. The company is reportedly eyeing an IPO in the ₹2,000-3,000 Cr range, split between a fresh issue and an offer-for-sale, at a valuation north of $900 million. Bankers have positioned the startup alongside platform businesses like Zomato and ixigo when pitching comparable valuation multiples, a sign of how far the company has moved from being viewed purely as an admissions counselling shop.
That shift shows up in the numbers. Leverage Edu’s operating revenue more than doubled to ₹375 Cr in FY26 from ₹173 Cr a year earlier, and the company says it turned EBITDA profitable during the year. Its horizontal push, spanning fintech, accommodation, travel, and career support alongside its original admissions business, now makes up 25-33% of total revenue. The startup added more than 55,000 students to its platform in the past fiscal year, taking its cumulative user base past 1.75 lakh.
Buying into Brazil fits a broader pattern among Indian study-abroad platforms, which have spent the past two years diversifying beyond the traditional UK-US-Canada-Australia funnel as visa tightening in those markets pushed students toward alternative destinations. Brazil’s outbound diaspora, now close to 50 lakh people, including students, skilled professionals, and healthcare workers, represents exactly the kind of underserved, high-growth pool that a platform preparing for public-market scrutiny needs to show it can capture.
Before this deal, Leverage Edu’s footprint spanned South Asia, Africa, and the Middle East. Extending into Latin America builds a more global growth story heading into the IPO process, at a time when investors are increasingly parsing edtech pitches for real geographic diversification rather than single-market dependence. The company has raised $57.3 million in funding to date from investors, including Blume Ventures and BlackSoil.
