Leap in late-stage talks to acquire Prodigy Finance

Flush with funds, study-abroad platform Leap is in late-stage talks to acquire study-abroad fintech Prodigy Finance Ltd, with plans to acquire more startups, three persons close to the development told Mint.

- Mansi Verma

MUMBAI:

The final details are being ironed out, and the deal will close soon, said one of the persons, adding that Leap is also evaluating two to three other startups to acquire, with study-abroad consultancy KC Overseas Education being one of the leading prospects.

Mint could not ascertain the size of the deal.

Queries sent to Leap, Prodigy and KC Overseas early on Thursday haven't elicited a response.

On Wednesday, its student-lending arm, Leap Finance Inc., secured a $100 million debt facility from HSBC's $1 billion ASEAN Growth Fund for new economy businesses to support students pursuing international education, the company said in a statement.

Since its inception in 2019, Leap has raised over $400 million in equity and debt.