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Byju’s Founder Takes Home Loan Amid Salary Payment Challenges

Byju Raveendran, the founder of edtech giant Byju’s, has reportedly utilized his and his family’s homes as collateral to secure funds amidst the company’s financial challenges.

Facing a cash crunch, Raveendran pledged two family-owned residences in Bengaluru and an under-construction villa in the upscale Epsilon community to secure a $12 million loan, according to anonymous sources.

The borrowed funds were subsequently used to meet salary obligations for 15,000 employees at Byju’s parent company, Think & Learn Pvt. Raveendran is actively working to address the company’s financial strains, with efforts including the sale of its U.S.-based kids’ digital reading platform for approximately $400 million.

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Additionally, Byju’s is entangled in a legal dispute with creditors regarding a missed interest payment on a $1.2 billion term loan. Despite once being India’s most valuable tech startup, Byju’s is navigating various challenges to sustain its operations.

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