Contxto – Quero Educação, the edtech from São José dos Campos announced it’s acquired the Brazilian arm of US marketing firm QuinStreet this week. The transaction amount was undisclosed.
The Brazilian startup was interested in QuinStreet’s speed in finding students who don’t require a scholarship to then match them with institutions in education that want to charge more.
Related article: Quero Educação invests US$4.9 million in fellow Brazilian edtech, Melhor Escola
More money for more tuition fees
Last November Quero Educação invested nearly US$5 million in fellow edtech, Melhor Escola. As part of the deal, Melhor Escola also integrated Quero Educação’s biggest product, a marketplace for financial aid, onto its platform.
Now the startup specialized in education is taking a step in a different direction through marketing.
Rather than helping students find financial aid, it wants to use QuinStreet to locate students with more purchasing power. After which it wants to match them with private learning institutions hungry for higher rates.
Consequently, it wants to leverage the fact that QuinStreet garnered 60 million hits through its marketplace and around 100,000 enrollments. It’s also worked with the likes of Laureate and the Faculdade Das Américas (FAM), a higher learning educational institution from Brazil.
Private education, a lucrative enterprise
Quero Educação has been quietly gaining speed throughout its eight-year existence. Renata Rebocho, Lucas Gomes, and Bernardo de Pádua launched this edtech in 2012. Its purpose is to connect Brazilians with the educational opportunities that match their interests and budget.
The startup reported to have become profitable as of 2013. It then partook in Y Combinator’s accelerator program in 2016. By then it is said to have raised approximately US$800,000 in investments.
Fast forward to 2018 and its revenue was for around R$50 million (about US$12 million). Moreover, it’s said to have raised R$60 million (US$14.7 million) in equity.
Slow and steady wins the race.
Or so it seems in Quero Educação’s case.