CollegeDekho, an online platform that connects students with colleges and universities, has acquired Scholarship Facilitation Services Private Limited (SFS), a Delhi-based education consulting services company. The financial details of the transaction were not disclosed.
“The core team at SFS have been experts in the international education domain for more than a decade. Their rich expertise and industry linkages will help boost CollegeDekho’s international business,” co-founder and CEO Ruchir Arora said in a statement.
CollegeDekho, owned by Gurugram-based Girnar Software Private Limited, aims to broaden its student’s counseling services to help a larger population of students go abroad for studies, the statement added. The study abroad initiative was started in 2017 and has assisted students with the admission process in countries such as Canada, The Philippines, Germany, Ukraine and Russia.
Following the acquisition, the company further plans to strengthen its reach to students who are looking to study in the US, Europe and Southeast Asia. The two companies also aim to increase their satellite test prep counselling centres to over 25 by 2020.
“In the last few years, India has witnessed a rise in the cost of education in India, thus blurring the boundaries between domestic and foreign higher education. As these numbers grow, along with the aspirational value of a foreign degree, there is a need for an ed-tech company that can bridge the divide,” said SFS co-founder and chief executive officer Manik Kubba.
Kubba founded SFS in 2012 with Umesh Sharma and Vikaas Wahi. The firm offers need-based, budget-based and university-based admission counseling services, along with complete admission services.
CarDekho last raised capital in May this year, an $8 million round led by existing investor Man Capital, the London-based investment arm of Mansour Group, an Egyptian conglomerate.