Edtech startup Eruditus raised $350 million in debt from Canada Pension Plan Investment Board


Edtech startup Eruditus raised $350 million in debt from Canada Pension Plan Investment Board (CPPIB) to expand its acquisition plans in overseas markets.


The edtech firm has been in talks about strategic acquisitions and plans to spend up to $1 billion on them. The debt capital will be used for two key acquisitions in Europe and the United States, as the company plans to increase gross annual bookings by 90% to around $950 million in fiscal 2023, up from an estimated $500 million in the current fiscal year ending March 31. The CPPIB debt, which is routed through subsidiary CPPIB Credit Investments Inc, is a five-year credit with a bullet payment of the amount at the end of the tenure, with no interest to pay.

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