Prodigy Finance Continues Global Expansion with USD 310 Mn in New Funding for Education Access This funding aims to prioritise social impact by dedicating at least 30% of financing to women and 50% to individuals from low- and lower-middle-income countries, reinforcing Prodigy's mission to support diverse talent.
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Prodigy Finance, a global higher education finance provider, has secured financing of up to USD 310 million through a commitment from the US International Development Finance Corporation (DFC).
This funding prioritises social impact by dedicating at least 30% of financing to women and 50% to individuals from low- and lower-middle-income countries, reinforcing Prodigy's mission to support diverse talent.
With its innovative borderless lending model, Prodigy Finance assesses loan eligibility based on students' future earning potential, making higher education accessible to international students who may lack traditional credit histories.
Founded in 2007, Prodigy claims to have provided over USD 2.3 billion in funding, enabling more than 43,000 postgraduate students to attend top universities across the globe.
"Together, we are empowering a new generation of global leaders to unlock opportunities that shape a brighter future," said Prodigy Finance CFO Neha Sethi. Sonal Kapoor, Global Chief Commercial Officer, highlighted India as the company's largest market, emphasising its significance within Prodigy's global portfolio.
The impact of Prodigy's financing is evident; according to its 2022 Impact Report, 91% of students reported career advancement, 83% achieved personal success, and 74% saw their salaries double.
Furthering its reach, Prodigy Finance recently launched a USD 30 million blended finance program in collaboration with The Standard Bank of South Africa Limited and Allan & Gill Gray Philanthropies, reflecting its commitment to broadening access to education for aspiring leaders worldwide.
