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Deliver financial assistance through B2C models engaged in offering lending solutions to students for both formal and informal education.
> Loans are provided for 100% of total tuition/study costs across education levels/courses, for a maximum tenor of 24 months, with a nominal value of 3-300 mn and flat interest rates of 0%-1.5% per month. > Approval process (including the time for disbursement of loan to the campus account) takes 1-3 days. (14) Examples of some companies active in this space are:
Pintek, founded in 2018, provides access to funds for students and parents for study fees; starting fees, semester fees, tuition or tuition fees, and course fees., and educational institutions in developing facilities, procuring books, and props. In 2021, it raised USD 7 mn in Series A round from Socap Holding Pte. Ltd, bringing the total capital raised to more than USD 35 mn. (15)
PT Inclusive Finance Group (Danacita), founded in 2017, is a technology company that owns and operates a platform, engaged in providing affordable education financing for students and professionals. In February 2021, it raised USD 5 mn in Series A from Monk’s Hill Ventures and Qualgro. (16)
Provision of accessible quality education to enhace quality of education and learning experience, and improve the quality of future workforce