Prodigy Finance
Investment Details
Investor Type
Venture Capital
Asset Class Focus
Venture Capital
Stage Focus
Seed, Early Stage, Series A, Series B, Growth, Late Stage
Geographical Focus
United States, United Kingdom, Canada, Germany, Hong Kong, Japan, Australia, Singapore, China, India, Brazil, France, Italy, United Arab Emirates, Spain, Mexico, South Korea, Netherlands, South Africa, Russia
Industries Focus
- Financial Services
- Technology
- Investment Management
- Education
- HealthTech
- EdTech
- FinTech
- Artificial Intelligence
- Blockchain
- InsurTech
- Machine Learning
- Proptech
- Data Analytics
- RegTech
- Social Impact
- Peer-to-Peer Lending
- Higher Education
- Student Loans
- International Education
- Credit Risk
Investment Size:
1,000,000 to 50,000,000 USD
Investor Details Founded: 2007
Prodigy Finance is a fintech platform that enables financing for international postgraduate students attending participating business schools and postgraduate institutions. Founded in 2007 by three INSEAD MBA students, the company has disbursed over $1.4 billion in loans to more than 20,000 students from 150 nationalities. The platform's unique global credit model assesses applicants based on projected earnings rather than historical credit, allowing the company to provide funding to students without collateral, a co-signer, or guarantor. This approach has enabled Prodigy Finance to support students who might otherwise lack access to traditional financing options.
The company's investment strategy focuses on providing loans to postgraduate students pursuing degrees in business, engineering, public policy, law, and health sciences at top universities worldwide. Prodigy Finance has established partnerships with leading venture capital firms, including Index Ventures, Balderton Capital, and AlphaCode, to support its growth and expansion. In 2017, the company raised a $240 million fundraise, comprising a $40 million Series C equity round and a $200 million debt facility. This funding has facilitated the company's expansion into new markets and the development of innovative financial products.
Prodigy Finance's track record demonstrates its commitment to social impact and financial sustainability. The company has provided over $2 billion in student loans, enabling more than 39,000 students from 120 countries to advance their careers at over 1,700 leading institutions. By leveraging a community of alumni, institutional investors, and qualified private investors, Prodigy Finance delivers both financial and social returns, making quality education accessible to a wider pool of people. The company's innovative approach has garnered recognition, including nominations for 'Fintech Company of the Year' and 'Explosive Growth Company of the Year' in 2016.
Requirements
- Applicants must be accepted into a participating business school or postgraduate institution.
- Loans are available to students studying outside their home country, with some exceptions.
- Eligibility criteria may vary by institution and country.
Contact
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