Location
Bangalore, Karnataka
Year Founded
2018
Sector
Edtech
Seafund Entry
July 2024 - F2
SUBSector
AI enabled SaaS
cOINVESTORS
Unicorn India Ventures
Company Overview
Foreignadmits is a B2B SaaS platform for the study abroad industry. Its platform assists agents in solving cross border student mobility problems by bringing Visa Assistance, banks, forex providers, airlines, student housing, insurance and sim cards in one place by providing an integrated CRM solution for long-term engagement of agents with their students. Recently, they have launched AI assisted visa prep and university matching services as well.
PROBLEM STATEMENT
The study abroad process remains highly complex and fragmented. Students are required to navigate multiple, often disconnected services including university shortlisting, test preparation, application assistance, financial services, visa processing, and accommodation. SaaS solutions are limited to top tier agents. For mid tier agents (majority of the market) current solutions fail, leaving students and agents struggling to manage the process efficiently.
investment rationalE
Large and growing market opportunity, with a volume of 3M students going abroad annually, there is an estimated TAM of $8 billion. As population average income rises, this number will only increase. The market is largely unorganized market with no key leader. Majority of the agents are mid tier agents who are left without any dedicated tool to use, resorting to excels and whatsapp. Strong founder background in entrepreneurial ventures.
FOUNDER BACKGROUND
Nikhil Jain
CEO
With over 5 years of extensive experience in marketing, operations, and growth at various startups in the USA and India. Nikhil has been a serial entrepreneur with end to end exposure on managing teams and overall business development.