Madrid-based StudentFinance, a global career mobility fintech platform for reskilling and upskilling the global workforce, announced that it has raised €39M in a Series A round of funding to provide skills-based training in Europe.
The startup has now raised a total funding of €44.7M to date.
The round was led by Iberis Capital (equity) and SmartLenders Asset Management (debt), with support from Armilar Venture Partners, Mustard Seed Maze, Giant Ventures, and Seedcamp.
The round also saw participation from UK angel investors Ed Vaizey, the longest-serving Culture & Digital Economy Minister, Tom Blomfield, founder of Monzo, and Martin Villig from Bolt.
Launched in 2020 by Marta Palmeiro and Mariano Kostelec, the startup partners with education providers, ranging from bootcamps, and certificate providers to Masters degrees, offering both a success-based financing model and fixed installments.
Users only begin to make repayments once working and generating more than a minimum income level. The risk is shared among StudentFinance, the student, and the educational institution because it is a success-based strategy focused on job outcomes.
StudentFinance says that the funds will be used to launch its operations in the UK and Germany, after receiving authorization from the FCA and the German financial regulators last year.
The startup also looks to further expand its offering in the Spanish market, having partnered with the European Investment Fund.
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