Debt

Debt financing

Edtech startup Eruditus raises $350-M from CPPIB to fund M&As

Economic Times  

SoftBank-backed executive education-focussed startup Eruditus has closed a USD 350 million debt financing from Canada Pension Plan Investment Board (CPPIB) to fund its acquisition plans in overseas markets. Eruditus has been in talks for strategic acquisitions and plans to spend about USD 1 billion for the same. The debt will be used for two key acquisitions in Europe and the US, as the company plans to grow its gross annual bookings by 90% in FY22.