AdmitKard, a career advisory platform which assists students in studying abroad for higher education, plans to expand its services to MiddleEast, Nepal, Bangladesh and Nigeria while strengthening its student base in India in the next 12 to 18 months, Piyush Bhartiya, co-founder, AdmitKard told FinancialExpress Online. “We plan to grow our presence in MiddleEast focusing on UAE, Saudi Arabia, Bahrain, Qatar as our key markets besides Nepal, Bangladesh and Nigeria,” he added.
The company claims that it earns 50% of its revenue from university partnerships, followed by student membership fees at 30% and fees from partners at 20%. It claims to spend 40% of its earnings on operations, followed by 30% each on technology and workforce and on mentorship fees, respectively. The company further claims to have raised funds worth $1.3 million in pre-series A in July 2021. Founders of ed-tech platforms such as Vedantu, UpGrad, Unacademy, and DoubtNut had invested at the time. Early this month, it raised another $3.3 million in a second round of funding.
Regulatory filings accessed by business intelligence platform Tofler show that AdmitKard’s total revenue has increased 18.3% to Rs 77 lakh in FY21 from Rs 65 lakh, during the same period in the previous fiscal. While its net loss widened by 17.4% to Rs 2.7 crore in FY21 when compared to Rs 2.3 crore in FY20.
According to Bhartiya, the company plans to increase its student base in three ways. First, by broadening the student’s referral funnel with recruitment of more mentors – these the students who had gone to study abroad through AdmitKard. Second, by focussing on their content marketing plan by creating more intent-based content such as blogs and social media events on education loans, scholarships, and student visas, among other topics. Third, through another initiative, namely ProfileKard, the company reaches out to students at schools from class six.
“We launched ProfileKard three months back to reach students at school level to broaden our student base. We help them build their profiles through various activities like publishing books, research papers, and technology products while making them more aware of their career choices in six to nine months. They can be prepared with their profiles beforehand to reach out to foreign universities. The mentors guide the students and so far, we have 50 paid students,” Bhartiya said.
Earlier, AdmitKard was an information platform for studying overseas; however, it changed its business model to study abroad counselling in 2019. Since then, it claims to have facilitated education counselling for over 25,000 students, the majority during the lockdown, partnering with 3000 universities across 20 countries, including the United States, United Kingdom, Canada, Australia, and others. “In the past year, more than 1,000 students have gone to study at foreign universities through AdmitKard; so far, 5000 students have already applied to various universities through our platform,” Bhartiya added.
Read also: TeamLease EdTech collaborates with universities, launches apprenticeship embedded degree programme
