Delhi-based Leap Learning Solutions Pvt Ltd, the company behind online education startup Englishleap.com, has raised an undisclosed amount in funding from financial technology firm ANALEC, according to a top executive of the company.
As part of the deal, ANALEC has acquired a majority stake in the company.
"We will use the funding for customer acquisition and product development," said Saurabh Chopra, co-founder and MD, Leap Learning Solutions.
The startup was founded in 2011 by IIM-Lucknow alumni Chopra and Apar Sureka. While Chopra has previously worked at Bennett & Coleman and Marketics Inc., Sureka has earlier worked at HCL and Cognizant Technology Solutions.
Englishleap.com focuses on imparting fluency in speaking, reading and writing English. The company presently offers web-based learning propositions, along with an English grammar app. It claims that the app has seen over three lakh downloads to date.
"We believe EnglishLeap makes learning English fun via its teaching methodologies and technology-enabled engagement tools," said ANALEC's CEO, Indy Sarker.
Headquartered in Singapore, ANALEC is a financial technology company focused on the investment banking and investment research industry. It deploys proprietary enterprise level software-enabled business process solutions. The firm also has a delivery centre in India, besides a customer support centre and sales office in Taiwan, as well as business development and sales offices in the US.
(Edited by Joby Puthuparampil Johnson)