“We’ve got already supplied a mandate to our monetary advisors from KPMG. They are going to be what our wants are and the way we will align them,” Abhijit Zaveri, founder and managing director of Profession Mosaic, instructed The PIE Information of the corporate’s funding plans.
The company, which is run by the husband-wife duo Abhijit and Manisha Zaveri, is aiming to make use of its first spherical of funding on acquisitions, expansions and tech, capitalising on an ever-growing Indian examine overseas market.
“The funds will probably be used for Profession Mosaic’s major development. We’ve got already recognized a few of the firms we’d like to accumulate, and are additionally wanting to make use of the funds in tech as properly. A few of it would additionally go in direction of geographical growth within the Center East, North Africa, Central and Southeast Asia, the place we wish to rent gross sales personnel. The first funds will probably be utilized in firm and development capital,” stated Zaveri.
“India is a vital market. However we additionally wish to diversify our gross sales in Vietnam, Indonesia, and extra. Our contracts with US accomplice universities are international, so we will recruit college students from, for instance, Fiji to Ghana, and we wish to utilise that chance.”
With over two million college students anticipated to review overseas by 2025, it’s no shock that India’s abroad larger schooling expenditure reached a whopping $60 billion in 2023 in comparison with $47b in 2022.
“The examine overseas market in India has actually modified within the final 4 to 5 years. Numerous massive firms like ours have been earlier known as grasp brokers, due to the B2B mannequin, however now we’re known as tech-enabled grasp brokers – particularly post-pandemic. Submit-Covid, plenty of universities got here on the platform, and there was non-public fairness coming into some firms within the spectrum,” said Zaveri.
Based on Zaveri, Profession Mosaic has additionally seen near 80% development since 2023, with its gross sales now nearly double what they have been final 12 months.
“We closed 2023 at gross sales value INR 85 crores (£7.9m) and this 12 months we will probably be closing at 135 crores (£12.6m). We’re nonetheless fairly a lean organisation when it comes to our workforce dimension,” added Zaveri.
India is a vital market. However we additionally wish to diversify our gross sales in Vietnam, Indonesia, and extra
Abhijit Zaveri, Profession Mosaic
A business-to-business firm, Profession Mosaic has partnerships with international universities, with brokers additional utilizing their companies to enrol college students.
A serious chunk of those universities hails from the US, with the agency saying strategic partnerships with 10 American universities to determine groups in India for in-country illustration and operations again in February 2024.
“I consider the US continues to be an excellent vacation spot for college kids, particularly for those who wish to pursue tech, IT, and STEM typically. Additionally, put up the election, if Trump’s assertion about faculty graduates receiving inexperienced playing cards does come into play, it is going to be a goldmine for college kids,” stated Zaveri.
“The Biden authorities has additionally accomplished a great job. India can also be anticipating two extra US Consulates in Bangalore and Ahmedabad. It’s at all times a cycle – each three or 4 years issues go down and it picks again up. So although we would have a flattish 2024, 2025 Fall needs to be actually good for US-bound college students.”
Profession Mosaic has additionally arrange an workplace in Gujarat Worldwide Finance Tec-Metropolis, one among India’s latest central enterprise districts, as extra worldwide universities arrange campuses within the area.
“We’re the primary examine overseas firm to arrange an workplace in GIFT. We’re positioned proper under the Australian Deakin College campus. Some US universities have additionally proven curiosity in opening small campuses in India. GIFT has the potential to be a worldwide schooling centre within the coming years,” predicted Zaveri.
