Thinkcell Learning Solutions has recently acquired e-learning startup Enabilon Learning which offers its test preparation packages through Testfunda.com. YES Bank was the financial advisor from Enabilon Learning.
Talking about the acquisition, Mohit Goel, CEO & MD, Thinkcell, said,
“The acquisition of Testfunda.com is a strategic move on our part. TestFunda’s robust technology platform will now be used to create synergies for our existing divisions in the online space and provide scale. At the same time, it enables us to diversify our domain to include MBA entrance, Bank entrance and UPSC.”
TestFunda, founded by IIT-IIM alumni in 2008 prepares students for CAT, XAT, IIFT, CMAT, NMAT, SNAP.
TestFunda’s online aptitude test prep focuses on MBA & Bank test prep market. The startup claims to have an user-base of 6 lakhs and 250 institutional partners. It is technology focused with a online, android app and analytics tools.
Earlier this month, Thinkcell acquired the YUKTI brand for its focus towards 12th Board exams and Engineering and Medical Entrance exams like JEE, MHT-CET and AIPMT.
Thinkcell has also recently entered into exclusive partnership with KAPLAN for the in-person programs, this will help Indian students to take International entrances and professional licensing exams.
“Thinkcell is investing 30 crores over the next 2 years for this diversification including acquisitions and growing the business,” added Goel.
With the latest acquisitions, Thinkcell will now be structured into 4 verticals, Gateforum for GATE preparation, Yukti for preparing students from 8-12 science division for JEE & medical entrance, Logiquest (Kaplan Certified Education Partner) for education abroad focusing on GRE, GMAT, SAT, TOEFL & USMLE, and Testfunda.com for online MBA & Bank test preparation market.
In August 2014, private equity firm ASK Pravi Capital had acquired majority stake in Thinkcell. The startup has a presence in more than 65 cities and has trained more than 1,50,000 students since inception.