I have managed to borrow funds: Byju Raveendran assures small payment to teachers amid financial crisis

Byju Raveendran, co-founder of edtech firm Byju's, informed teachers that he has "managed to borrow some funds" and assured them they would receive a small payment as part of their salary by the weekend.

In an email sent to teachers on September 21, Raveendran acknowledged the long-standing delays in salary payments, which have plagued the company for months, and issued an apology for the financial strain placed on the staff.

“I owe you an apology. You have given your best, yet we have not been able to compensate you for your work. This is not right, and for that, I am truly sorry,” he said.

"As a small token of appreciation, I have managed, against all odds, to borrow some funds. It won’t be much, but each one of you will receive a small payment by this weekend."

The communication comes after months of financial uncertainty for Byju's staff. While part-salary payments were claimed to have been made for April and May, the company is yet to disburse full payments for previous months, including February and March, leaving many educators in a difficult position.

Read more