Byju’s ‘borrows’ funds to pay salaries in part

Byju Raveendran, co-founder of troubled edtech firm Byju’s, assured staff in a letter on Saturday that he had “managed to borrow some funds” and they would receive a small payment as part of their pending salaries by this weekend.

In an email sent to teachers, reviewed by FE, Raveendran acknowledged the long-standing delays in salary payments and issued an apology for the financial strain placed on the staff. While part-payments were reportedly made for April and May, the company is yet to disburse full payments for previous months, including February and March.