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Classplus

Can a super-app builder for individual educators own the vertical SaaS + monetization stack for India's fragmented offline coaching market?

Founded2018
HQNoida, Uttar Pradesh, India
FoundersMukul Rustagi, Bhaswat Agarwal
Total raised~$158M
Latest roundSeries D, 2022
Valuation$570M (2022)
IndustryVertical SaaS / Education (EdTech)
The story

Founded 2018 as a classroom management tool for offline coaching centers in India, Classplus pivoted during COVID-19 lockdowns to become a 'Shopify for teachers' — enabling educators to launch their own branded apps, sell courses, take payments, and run live classes. The platform now serves 100,000+ educators across 3,300+ cities in India, Middle East, and Southeast Asia, with educators cumulatively earning INR 500Cr+ on the platform. Embedded finance is limited: payment collection (fee acceptance from students) is the primary financial primitive; no evidence of embedded lending, banking, cards, or insurance in Classplus's own materials.

Last 12 months
Product timeline
2018
Founded by Mukul Rustagi and Bhaswat Agarwal to bring offline coaching centers online· founding
2020
Series A $9M — pivoted to Shopify-like platform for teachers/coaching centers during COVID lockdowns· pivot
2021
Series C $65M led by Tiger Global; platform grew ~10x in 12 months· growth
2022
Series D $70M at $570M valuation; expanded to Middle East and Southeast Asia· expansion
2025
Launched Landing Page Tool (tools.classplusapp.com) as adjacent SaaS product· product
The stack
0 layers disclosed in Classplus’s embedded-finance stack
Accounting gap: none