Prodigy Finance secures $100 million+ investment to bolster its postgrad student lending platform

London-based fintech company Prodigy Finance has secured more than $100 million in investment (also see FT's coverage although note that they got the currencies mixed up) to boost development and adoption of its _de facto_ crowdfunding platform, which basically helps students finance their international postgraduate studies by tapping investors directly.

The fresh capital actually comes in the form of both equity funding ($12.5 million from Balderton Capital and some cash from Betfair co-founder Ed Wray) and credit - a further $87.5 million in loan capital was provided by financial services giant Crédit Suisse.

Since 2007, Prodigy Finance says it has processed over $130 million through its platform to fund over 2050 students from 92 nationalities, with repayment rates in excess of 99%. The company has offices in London and Cape Town but plans to expand into Asia in 2016.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.