Scholify
Initial Ask – Rs. 50 lacs for 7.5% equity at a valuation of Rs. 6.67 Cr.
About the Company
This is an online platform, which makes students aware of the available scholarships,and matches them with a scholarship as per their needs. The application has been built with such an ease that with just one click, students can apply for scholarships. Having a registered student base of 7.5 lac students in the last 1 year, they earn money through 2 verticals. First, they offer licences to corporates for CSR initiatives, for which they charge a licence fee. Another vertical is the subscription model for users, which is very economically priced.
Their 75% business comes from the B2C vertical. They have till now provided scholarships to 2200 students, worth Rs. 4-5 Cr. However, it remains pre revenue in nature.
Past performance of the Company
The company doesn’t have any past financial performance, being pre-revenue in nature.
Industry Overview
The market which this company is catering to is humongous. In the year 2020, almost Rs. 2667 Cr. were rolled out as scholarships. Plus, there is a big chunk of CSR activities, which is gaining more and more importance with each passing day. CSR activities worth Rs. 1 lac Cr. has been taken up in the last 5 years. Thus, there’s a big gap to bridge and make these two meet.
Education loans were the reason that this company was established, however, it may not be the correct reason. Education loans worth Rs. 11000 Cr. were disbursed in the year 2020. But, the two things are quite different, and it cannot be substituted.
Offers made, and the one accepted:
No sharks offered a deal.