UK based international student lender Prodigy finance has raised $240m in new funding, with $40m coming from a Series C round led by Index Ventures in addition to a $200m debt financing from an unnamed 'global investment bank'. The company provides loans to international students from emerging markets, enabling them to study at business schools in the US, the UK and Europe.
UK fintech startup Prodigy Finance has raised a whopping $240 million funding round, certainly one of the largest by a UK company this year. The company provides loans to international students from emerging markets, enabling them to study at business schools in the US, the UK and Europe. The fundraise includes a $40 million Series C equity round led by London’s Index Ventures, with participation from Balderton Capital and AlphaCode, an accelerator in Africa; and a $200 million debt facility led by an unnamed “global investment bank”. With the number of international students forecast to reach 8 million by 2025 Prodigy Finance is clearly sitting on a growing market. The company founded what it describes as the world’s first globally enforceable credit model, and works only with leading universities.