#Asia Test prep portal Toppr raises US$2M debt funding from InnoVen

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The Mumbai-based firm, which bought rival EasyPrep earlier this year, will use the capital to acquire two more companies

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Toppr, a Mumbai-based startup offering an online platform for students to prepare for entrance tests examinations, has raised US$2 million from venture debt provider InnoVen Capital, reports Livemint.

The startup, which acquired rival EasyPrep early this year, plans to use the capital to buy two more companies, according to this report.

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The fundraising comes six months after Toppr raised US$10 million, led by Fidelity Growth Partners India and existing investors, SAIF Partners India and Helion Ventures. Prior to that, SAIF and Helion had put around US$2 million in Toppr last year.

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Founded in 2013, Toppr is an online test preparation service that provides students with insights into their strong and weak subject areas.

It also predicts what rank students will have on the basis of their current performance and how they can improve their rank. The analysis gives the student a real picture and motivation to improve and reach IIT, the premier technology school in India.

The startup claims to have around 500,000 enrolments and is on on track to enrol 500,000 more in the next few months.

Image Credit Shutterstock

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