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PayPal strengthens presence in India’s fast growing Edutech sector  

Mumbai: PayPal, a global leader in digital payments has strengthened its presence across India’s $800 million Edutech sector through its partnership with leading brands including upGrad, Great Learning, Camp K12, Edureka, Flintoclass, Cuemath.

Partners with leading Edutech merchants in India to support their cross-border/ global growth aspirations

The Edutech industry is poised to emerge as a $30 billion market in the next 10 years, according to a report by transaction advisory firm RBSA Advisors.[1] As the Indian edutech sector grows both within India and internationally, PayPal’s presence across 200 markets will help these merchants reach a global consumer base and drive growth.

Speaking on the partnerships, Navin Mistry, Director, Enterprise Sales, PayPal said “The Indian Edutech sector has seen significant growth since the onset of the pandemic and is predicted to become a $30 billion sector in the next decade. Our partnership with some of the leading names in the sector has played a critical role in helping them realize their cross-border growth aspirations and leverage the Indian Edutech sector globally.”

Speaking on the partnership, Arjun Mohan, CEO – India, upGrad said, “Our learners are located across ~100 countries and each region has its own payment guidelines and statutory requirements. This is where PayPal with its global presence and customer-friendly UI is helping us with cross-border transactions. This enables us to seamlessly drive our international businesses and support our learners who have entrusted in us as their LifeLongLearning partner.”

Speaking on the partnership, Manan Khurma, Founder and Chairman, Cuemath, said, “The partnership with PayPal has made it easier for our stakeholders – mainly parents – to easily carry out cross-border transactions. Cuemath has a large student base in the United States, the UK, MEA, and other countries, and are also expanding our global footprint. This partnership with PayPal will enable more students learn math in a more fun way.”

As per RS Components’ new report, India is home to the second-highest number of EdTech companies (327), followed by Brazil (275), the United Kingdom (245) and China (101). The sector has seen unprecedented growth with India emerging to be among the top three countries in the world after China and the USA to get venture capital funding. [2]

About PayPal

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 350 million consumers and merchants in more than 200 markets to join and thrive in the global economy.