[London, November 2024] – Prodigy Finance, a leading global higher education finance company, announces the launch of a new round of funding worth up to $310 million. This marks their second partnership with the U.S. International Development Finance Corporation (‘DFC’).
Building on their previous successful funding partnership with DFC, this latest funding round places social impact at its core. The round sets a minimum financing threshold of 30% for women and 50% for those from low—and lower-middle-income countries, aligning closely with Prodigy Finance’s mission to enable equal access to transformative education worldwide.
“Partnering with DFC highlights Prodigy Finance’s unwavering dedication to forging impactful, long-term relationships with those who truly understand the transformative potential of international postgraduate education,” said Neha Sethi, Chief Financial Officer. “Together, we’re empowering a new generation of global leaders to unlock opportunities that shape a brighter future.”
According to the Prodigy Finance 2022 Impact Report, students reported that their Prodigy Finance loan helped them to pursue their dream career (91%), achieve success in their personal life (83%), and at least double their salary (74%), if not quadruple it (43%). Needless to say, collaborations with like minded institutions are paramount to removing the financial barriers faced by highly motivated and talented students across the world who are underserved by traditional lenders.
To date, Prodigy Finance has funded over US$2.3bn in postgraduate education loans to over 43,000 students from more than 150 countries across the globe. This milestone underscores the platform’s commitment to creating accessible pathways to world-class education while delivering both social impact and financial returns to investors.
Prodigy Finance is determined to support many more students in the years to come and is eager to work with mission-driven investors to create funding opportunities that meet their needs while delivering a positive social impact.