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Byju's founder pledges homes to secure $12 Million for employee salaries amid cash crunch

Byju Raveendran, founder of Byju's, pledges homes to secure a $12 million loan amid a cash crunch
Two family homes in Bengaluru and an under-construction villa in Epsilon are offered as collateral for the loan
The borrowed funds were utilized to pay salaries for 15,000 employees in Byju's parent firm, Think & Learn Pvt

Byju's founder pledges homes to secure $12 Million for employee salaries amid cash crunch

Byju Raveendran, the founder of India's leading edtech giant, Byju's, has taken a significant step to alleviate a cash crunch by pledging his own home and those owned by his family members. The collateral, including two family homes in Bengaluru and his under-construction villa in the upscale Epsilon gated community, has been offered to secure a $12 million loan, as confirmed by sources familiar with the matter.

The borrowed funds were utilized to meet salary commitments for 15,000 employees in Byju's parent firm, Think & Learn Pvt., on Monday, addressing the financial challenges faced by the company.

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