Leap Finance Raises $100 Million HSBC Debt to Expand Study Abroad Loans
Leap Finance, the student lending arm of Leap, has secured a $100 million debt facility from HSBC under its ASEAN Growth Fund. This follows Leap’s $65 million Series E equity raise in January, bringing its total funding to over $400 million.?
The new funding will help Leap expand its services in the U.S., strengthen partnerships with universities, and grow its presence in India. Leap offers collateral-free education loans based on a student’s future earning potential, not current financial means. Since its founding in 2019, Leap has supported over 5,000 students with $250 million in education loans.
Highlight
What is Leap Finance?
Leap Finance is the student lending arm of Leap, an end-to-end platform designed to assist students pursuing higher education abroad. Founded in 2019, it provides education loans to students, focusing on collateral-free, USD-denominated loans that cover the entire cost of studying internationally. Unlike traditional bank loans, Leap’s loans are based on a student’s future earning potential rather than their current financial situation.?
Leap Finance operates in multiple countries, including India, the U.S., the U.K., Canada, and Australia, and partners with top educational institutions globally. It aims to make global education more accessible by providing financial support to students with limited financial resources.
Why is This Funding Significant?
The $100 million debt facility secured by Leap Finance from HSBC is highly significant for several reasons. First, it enables the company to expand its services to more U.S. states, deepen its presence in India, and explore new international markets. This will allow Leap Finance to support a larger number of students seeking to study abroad.?
Additionally, the funding will help increase partnerships with universities, offering students more educational opportunities. Leap’s unique approach of providing collateral-free loans based on future earning potential, rather than current financial status, makes global education more accessible to students from diverse financial read more...