Leap | Cholamandalam

Leap was founded in 2019 by Vaibhav Singh and Arnav Kumar, initially offering test prep and counselling for study abroad aspirants. It quickly identified a critical gap: even after admission to top global universities, students faced massive hurdles securing collateral-free, dollar-denominated loans at competitive rates. Leap Finance (the lending arm) was born to fill that void.

(often referred to as Leap Finance or Leap post-acquisition) represents a landmark convergence of fintech agility and traditional financial stability. Originally founded as a digital-first platform to help Indian students secure loans for overseas education, Leap was acquired by Cholamandalam Investment and Finance Company (Chola) — a flagship of the Murugappa Group — in 2022. This piece analyzes Leap Cholamandalam’s business model, market positioning, competitive edge, and future trajectory. leap cholamandalam

GaadiBazaar (launched in 2018) for vehicle financing. Advanced Analytics: Transitioned to Gen 3 and AI/ML-based scoring models by 2020 to improve risk assessment and credit decisioning. Cholamandalam II. Business Segments & Market Performance (FY 2024-2025) As of early 2025, Chola has scaled significantly using its digital-first approach: Cholamandalam +1 Assets Under Management (AUM): Crossed ₹1.5 lakh Cr in FY25, up from ₹1.3 lakh Cr in FY24. Diversified Portfolio: Vehicle Finance: Remains the largest segment, focused on commercial, passenger, and two-wheeler loans. Loan Against Property (LAP): Targeted at SME customers; platform underwent significant digitization in 2021. Newer Verticals: Launched Consumer & Small Enterprise Loans (CSEL) and Secured Business & Personal Loans (SBPL) in 2022. Physical Footprint: Operates a pan-India network of Leap was founded in 2019 by Vaibhav Singh

As part of the prestigious Murugappa Group, Chola uses this internal ecosystem to empower its workforce of over 54,000 employees and vast network of partners with digital-first financial tools and professional training. (often referred to as Leap Finance or Leap

Approval rates ~40% higher than public banks, with NPA (non-performing asset) levels kept below 2.5% (industry average for unsecured education loans is 5–7%). Chola’s conservative risk culture ensures Leap does not chase volume at the cost of quality.

Leap Cholamandalam is not merely a lender; it is an ecosystem player solving the high-ticket, high-aspiration problem of international education financing in India, backed by one of the country’s most conservative and well-capitalized NBFCs.