Flex Class Holdings Inc. In Talks To Raise US $3.30 Million, Eyes US $1.2 Billion Valuation
Flex Class Holdings Inc. ahead of its listing on the US stock markets is in talks to raise US $3.30 million. The company is eyeing a post funding valuation of US $1.2 billion.Tweet
-- Flex Class Holdings Inc., the parent company of India, Africa and Thailand based business outfits which provides several economical online skill development programs is in talks to raise US $3.30 million or ₹21.12 crore from a bunch of Singapore based private investors. This will be a final fund raise before the company's listing on the US stock markets this year.
Flex Class Holdings Inc. is eyeing a post funding valuation of US $1.29 billion.
The company has recorded a consolidated revenue of US $21.61 million and US $22.73 million respectively in the last two quarters. The company is expecting exponential growth in the next two quarters and is in dire need of expansion funds.
Flex Class Holdings Inc. works on an interesting business model where it refunds the 100% fee back to the student on completion of their online course.
Flex Class also manages human resource vertical where it places their students directly with the employers and charge them a fee which is equivalent to the course fee paid by the student, it helps the company to recover the cost of refunds. The employers are preferring Flex Class due to its low commissions and quality training which it provides to their students.
"The company is undergoing a mega growth and instead of relying on private equity funds we are directly taking our business public. We are talking to few anchor investors who have found our business growth interesting and our growth viable," said Dubai based Anurag Vaid, Director of Flex Class Holdings Inc.
Entire Asia is passing through an interesting phase where the penetration of internet has improved drastically. Due to the emergence of smartphones backed by economical internet plans and high travel cost, the students have started adopting online education as a preferred medium of gaining skills.
Flex Class has seen some exponential growth in its valuation on back of rising revenue and almost zero cash burning.
The fund raising and listing of Flex Class Holdings Inc. is being managed by Raga Bank, India.
Notes to Editor
Flex Class Holdings Inc. is a leading online skill development company. The company operates in India, Africa and Thailand.