With acquisition of SFS Scholarship Facilitation Services, CollegeDekho plans to expand to new geographies
CollegeDekho.com, the education technology company, has acquired SFS Scholarship Facilitation Services, an overseas admission consulting firm, in a stock-and-cash deal.
Ruchir Arora, Chief Executive of CollegeDekho, said, “We are looking at expanding to the US and Germany with this acquisition. We are evaluating more companies for acquisition in order to expand to new geographies or widen our offerings.”
CollegeDekho has over 500 employees including 400 counsellors. The firm is offering services like free career guidance, psychometric and aptitude tests, workshops, counsellors on-call as well as help to identify colleges and entrance examinations.
Since its inception in 2015, the firm has raised $11 million, with $8 million in the latest round in May 2019 from existing investors, including GirnarSoft and Man Capital, the investment arm of London-based Mansour Group.
“We are profitable (both in terms of net and operational) and so our funds would be used for expansion, including acquisitions. We are targeting Rs 50 crore in revenue this fiscal year. We are growing at 100% each year in terms of revenue for the last three years,” Arora further stated.
Currently, CollegeDekho provides counselling using one chatbot. The company intends to add more chatbots as it expands to new geographies.