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07 Apr 2017

Fox Mandal assists Edtech venture Testbook in raising capital

Fox Mandal & Associates is pleased to have assisted Edtech venture Testbook raise funding from venture capital firm Matrix Partners based in Mauritius. Testbook provides a cost-effective and convenient platform for job aspirants to take practice/mock tests via a mobile app, website or through offline test centres (in some cities). The venture, founded by a team of IIT graduates, prepares candidates for recruitment exams such as SBI Probationary Officers, LIC AAO etc. The company intends to use the capital to improve its product, expand market presence in India and brand-building.

A team led by Chennai-based Partner, Jeevanandham Rajagopal, and Senior Associate Vidya Sunderam was involved in the transaction right from the first stage of negotiations between Testbook and Matrix till the completion of the transaction. Fox Mandal provided the following services:

  • Structuring the transaction and negotiating the deal
  • Handholding Testbook through the due diligence review conducted by Matrix
  • Reviewing and finalizing all documentation required for consummation of the transaction.


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