India, March 5 -- Overseas education startup Leap's student lending arm Leap Finance has secured a $100 Mn (INR 870.66 Cr) debt facility from HSBC under its ASEAN Growth Fund.

The debt facility will enable Leap to help more students in their pursuit of international education and become global citizens. Besides, it will also allow the startup to expand services further in the US, new university partnerships and strengthen its presence in India.

For the uninitiated, a debt facility is an arrangement that enables a startup to borrow capital for a set period with an agreed schedule for repayment. In this case, HSBC will act as the company's lending partner in the structured financial arrangement.

Apart from Leap Finance, Leap also operate...