ErudiFi raises $5 million Series A to give students in Southeast Asia more education financing options
– ErudiFi, a student financing startup, raised $5m in Series A funding.
– The round was co-led by Monk’s Hill Ventures and Qualgro.
– The company currently works with more than 50 universities and vocational schools in Indonesia and the Philippines.
– It offers subsidized installment plans, using tech to scale up while keeping costs down.
– Interest rates and repayment terms vary between institutions, but can be as low as 0%, with loans payable in 12 to 24 months.
Unicorn Nest news
– Cirrus announced a capital investment from Manifesto.
– Manifesto is a branding agency.
– Cirrus is a provider of cloud-based document management software.
– Cirrus’ cloud-based system plays a key role in supporting a more streamlined, user friendly commercial and SMB lending process.
– Cirrus’ bank and credit union customers can better manage extensive loan requests and provide quicker access to capital for small businesses.
– This is important today as businesses continue to cope with the effects of the pandemic and important in the future as institutions work to grow their business and commercial loan portfolios.
– Fraction Technologies Inc. (“Fraction”), is announcing that it has raised C$289 million in a combination of equity and debt financing from Impression Ventures, Primetime Partners, Global Founders Capital, and Panache Ventures, among others.
– It will use this funding to launch in Canada, expand its team and technology platform, and prepare for its launch in the U.S.
– Fraction offers a digital platform that provides socially conscious financial solutions. Its flagship product, the Fraction Appreciation Mortgage is the first of its kind in North America.
Unicorn Nest news
– Trade Ledger has raised £13.5m in Series A funding.
– Point72 Ventures led the round, with Foundation Capital, who led the debt tranche closed previously, Court Lorenzini, founder of DocuSign, Hambro Perks, and other existing investors participating.
– Trade Ledger exists to enable lenders to provide credit to small and medium enterprises (SMEs), by showing them at a glance the information they need to make good decisions.
– Trade Ledger’s platform puts the customer experience at the heart of the process and expands credit distribution without increasing risk.
– Playter Pay Raises £1 Million For Its Hire Now, Pay Later Payment Solution
– Playter Pay is one of a large and growing number of companies looking to make scaling a business more accessible and affordable.
– Founder, Jamie Beaumont conceived ‘Hire Now, Pay Later’ after discovering first-hand a pain point for both recruiters and SME’s in the up-front cost associated with recruitment fees.
– This week, the company announced that it has raised £1 million led by a consortium of investors. The investment, comprising both debt and equity will allow Playter Pay to help SMEs borrow and spread the cost of their recruitment invoices over 6 months, whilst paying the recruitment agency within 24 hours of invoice.