Ukraine’s EdTech market is gradually shifting from organic growth to consolidation through mergers and acquisitions. One notable example is the deal by educational platform Turbo Education, which acquired 51% of online tutoring center NovaShkola in May 2025.
The deal became part of a strategy to build a full-fledged EdTech ecosystem covering the entire educational journey — from primary learning to acquiring a profession and employment. According to Turbo Education founder Illia Lytun, the key goal is to create a comprehensive product line that covers different learning formats and student needs.
NovaShkola, founded in 2023, specializes in individual online lessons for students in grades 5–11. Since its launch, more than 5,000 students have studied there. Turbo Education, meanwhile, primarily operates in the format of group online exam preparation courses and has taught more than 23,500 school students over five years. As a result, the merger made it possible to synergistically complement the product offering: group and individual learning formats now exist within one ecosystem.
NovaShkola’s valuation at the time of the deal was around $200,000, which is above the typical market range for similar assets. At the same time, experts explain this by the strategic nature of the transaction, where not only financial indicators matter, but also scaling potential, brand, teaching methodology, and the team. The deal value was not disclosed, while the expected payback period for the investment is 2–2.5 years.
Turbo Education deliberately chose to acquire a controlling stake rather than pursue a full takeover. This allowed NovaShkola founder Mykhailo Nedobra to remain CEO with a minority stake, preserving his motivation and management autonomy. According to market participants, this approach allows the investor to gain operational and product advantages without losing management flexibility.
The integration of the companies took place through the launch of a joint product — the One-to-One Turbo Nova plan, focused on individual student preparation. The product used NovaShkola’s existing tutor base and Turbo Education’s educational content, which made it possible to quickly bring the new offering to market without significant additional costs.
In the first year after the deal, both companies demonstrated growth. NovaShkola increased its number of students from 300 to 800, while its teaching staff expanded from 60 to 120 people. The center’s revenue doubled. Turbo Education also recorded a twofold increase in revenue, with individual learning now accounting for around 20% of total revenue. The average ticket increased by 30%, while customer acquisition cost decreased by approximately 20%, partly due to project synergies and cross-selling.
At the same time, the companies maintain separate operating models and financial reporting, interacting through audience exchange. For example, students from Turbo Education’s group courses can move into NovaShkola’s individual format; in recent months alone, this has brought more than 100 new clients to the tutoring center.
The group’s financial indicators also show growth momentum: in 2025, Turbo Education’s revenue amounted to around $2 million. For 2026, the company aims to reach $5 million, in particular through a new M&A deal that is currently in the final stage and is expected to expand the product line.
Going forward, Turbo Education plans to scale its business through further market consolidation. The main criteria for future acquisitions are companies with revenue of at least $1 million and stable growth of no less than 50% per year, as well as the presence of a strong management team willing to remain in the business after the deal.
The company’s long-term strategy provides for aggressive growth: $10 million in revenue in 2027, $20 million in 2028, $50 million in 2029, and reaching $100 million by 2030. The key instrument for achieving this will be ecosystem expansion and the consolidation of different segments of private education in Ukraine around the Turbo Education platform.
