We are estimating to report a 400% revenue increase for the fiscal year 2022, due to strong traction in key markets.
Here goes a big credit to all of our dedicated teams in India, Europe and Canada. Focus on innovation has resulted in a successful year that we can all be proud of.
Dfavo is a profitable company only after 2 years in operation. We are thrilled to see such strong growth in the face of a challenging economic environment, where most of the companies in this industry are struggling of being profitable.
Our mission “digitalisation without compromising the human element” has resonated very well with both, students (B2C) as well as our channel partners (B2B) network.
We are not only giving students access to education but believe we are helping them to become global citizens. Though technology is the backbone of our business as a global platform, our approach to developing B2C through our own English prep. schools and consulting offices in major source markets puts us in a unique position.
We have currently twelve (12) B2C English prep schools/consulting offices under the brand FlyingFeathers in India with access to over 10 000 students every year. We aim to grow and double down on offices in 2023.
It was challenging to find the right resources and hire in the countries that we are planning to expand as destination countries. We will also be putting more effort into diversifying access for students to European countries.
We are richer now with the additions of Martin as COO and Gurshobit as CTO to our leadership team who bring a lot of experience in building tech startups.
2022 was a year of ups and downs for many sectors but it’s good to see our continuous growth and adaptability. Many of the projects and initiatives are unique to the sector.
We are excited to continue building on this momentum and are confident in our ability to drive even more success in the future. I want to thank our people, channel partners, and university/college partners for their contributions to our success and for their continued support.
B2C – Dfavo does not want to be perceived only as an aggregator (only B2B) like many others. In 2022 15% of students enrolled through Dfavo service were direct students who used our services as B2C and we are looking to focus on them even more in 2023.
Quality – It’s obvious that quality has become an issue in the student mobility industry. Our goal is to give the best experience when it comes to service and supporting students, universities and channel partners. We are not in the volume race and cannot compromise on our quality service promise to our partners.
Subscription plan – Our team has processed 60 000+ applications so far. We found early that it could be challenging to serve our growing network of 5400+ channel partners at the service level we want.
After surveying our most loyal channel partners and aligning with our company’s motto to deliver the best quality service to all our channel partners, we rolled out a subscription with a nominal service fee on 10th January 2023.
We believed the nominal service fee introduced would help us to add more focused value to our channel partners and improve the human element in our service.
It makes us happy to see the acceptance from our channel partners, which proves that they choose quality over making an extra buck.
Digital steps forward
Our IT team has worked tirelessly to bring an easy-to-use and best-user experience platform to the market.
Dfavo mobile app – Dfavo is launching a mobile application for students not only to support enrollments but also that they would be able to apply for study loans, open bank accounts at their study destination, connect with students from the same university and study in the same course.
Launching in Q1 of 2023, the Dfavo mobile app will make it simple for students to upload their documents, apply to institutions and track the progress of their application 24/7.
Intelligent inventory – Our platform has evolved a lot since its first launch in September 2020. We have made big steps in improving user experience both for students and channel partners. During 2022 we built an improved version of the platform that will be live in Q1 of 2023.
Tech for support – As we keep quality and user experience at the forefront we have worked on many solutions like the integration of various communication for students. The goal is to be close to our customers and provide them with solutions that make their life easier.
Looking into 2023
Looking at 2023 we see growth but also a strong focus on strengthening the fundamentals.
The key element for 2023 will be quality over quantity. It’s obvious that quality has become the key concern in this industry. The “race to numbers” has resulted in bottlenecks in different parts of the industry. Our aim is to build Dfavo sustainably and put our students first.