ErudiFi, a Southeast Asia-focused provider of financing solutions for education, has secured a US$15 million debt facility from Helicap, a Singapore-based fintech firm.
Team ErudiFi / Photo credit: ErudiFi
Singapore-based ErudiFi aims to partner with universities and vocational schools to help underserved families find funding for higher education. It operates education financing platforms Danacita and Bukas in Indonesia and the Philippines, respectively.
So far, ErudiFi has served more than 12,000 students and partnered with over 100 educational institutions in the two countries.
The company was founded by Ketty Lie, Naga Tan, Riche Lim, and Susli Lie in 2018.
“The need for an affordable financing solution is greater than ever, with the ongoing pandemic leading to an increasing number of Filipino and Indonesian youths deferring further studies due to financial constraints,” ErudiFi CEO Tan said in a statement.
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The company said its latest funding round will help provide affordable tuition installment plans to students.
Editing by Collin Furtado and Arpit Nayak
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