Thinkcell acquires elearning fimr Testfunda.com
Thinkcell investing 30 crores over the next 2 years for this diversification including acquisitions and growing the business
Thinkcell Learning Solutions (formerly Gateforum Educational) has acquired elearning company Enabilon Learning which offers its testprep packages through Testfunda.com. YES Bank was the financial advisor from Enabilon Learning Pvt. Ltd.
“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,” told Mohit Goel, CEO & MD, Thinkcell.
TestFunda has over 6 lack registered users and around 250 institutional partners. TestFunda’s reach spans the country with students and institutional partners from Jammu & Kashmir to Chennai and from Gurdaspur to Jorhat.
Earlier this month, Thinkcell acquired the YUKTI brand to kickstart its 8-12 Science division, with the primary focus being the 12th Board exams and Engineering and Medical Entrance exams like JEE, MHT-CET and AIPMT. To facilitate Indian students on taking international entrance and professional licensing exams viz., GRE, GMAT, SAT, ACT, USMLE, NBDE, NCLEX, TOEFL and IELTS Thinkcell has also recently entered into exclusive partnership with KAPLAN for the in-person programs.
“Thinkcell is investing 30 crores over the next 2 years for this diversification including acquisitions and growing the business” added Goel.
With the acquisition of Testfunda, the company has now been structured into 4 verticals namely GATEFORUM for GATE preparation, YUKTI for preparing students from 8-12 Science division for JEE and 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.
Last year, in August 2014, private equity firm ASK Pravi Capital had acquired majority stake in Thinkcell.
