Brightchamps acquires Schola for $15 million

24 Aug 2022 , 10:23 AM

Brightchamps, an edtech business backed by Binny Bansal, co-founder of Flipkart, has acquired Schola, a Singapore-based communication and English-learning platform, for $15 million in cash and stock.

According to co-founder and CEO of Brightchamps Ravi Bhushan, all of Schola's staff members, including the original group, have been retained following the acquisition.

Bhushan added that the addition of the English speaking and communications vertical will help Brightchamps scale more quickly in its core Southeast Asian regions, including Vietnam, Thailand, and Indonesia.

Aditya Gupta and Nhu Tran Le Thanh, two former senior Facebook executives, founded Schola, which provides a range of courses in a live, one-on-one class format for children between the ages of 4 and 15 to develop skills like communication, public speaking, leadership presentation, and confidence-building. Students from 12 other countries, including Vietnam, Thailand, Korea, Japan, Malaysia, and others, can currently take classes through the organization.

The purchase occurs after Brightchamps said that the company would set aside up to $100 million for mergers and acquisitions in FY23 (2022—23). According to Bhushan, the business would look into acquisitions to develop into fresh

Bhushan founded Brightchamps in 2020, and the company says it operates in over 30 nations, including the US, Canada, the UAE, Saudi Arabia, Indonesia, Malaysia, Thailand, and Nigeria. Children between the ages of 6 and 16 can learn coding, money management, and robotics using Brightchamps' platform.