Prodigy Finance Raises $310 Million to Fund Education for Global Students In a move that will help thousands of students around the world access top-tier education, Prodigy Finance,
In a move that will help thousands of students around the world access top-tier education, Prodigy Finance, a global leader in education financing, has secured a $310 million investment from the U.S. International Development Finance Corporation (DFC). This partnership marks the second time Prodigy Finance has teamed up with the DFC, a vital ally in the company’s mission to make postgraduate education accessible to talented students, no matter where they come from.
This new round of funding sets the stage for the next chapter of Prodigy Finance’s journey—one that prioritizes equal opportunities for students from underrepresented backgrounds, especially women and those from low- and lower-middle-income countries.
Since its founding in 2007, Prodigy Finance has been on a mission to help students get access to higher education through a borderless lending model. Unlike traditional loan programs that rely on a student’s financial history or credit score, Prodigy Finance evaluates students based on their future earning potential. This unique approach makes it possible for bright, ambitious students from around the world to access the funds they need for postgraduate studies, regardless of their current financial situation.
Prodigy Finance has funded over $2.3 billion in loans to more than 43,000 students from over 150 countries. This far-reaching impact is a testament to the company’s innovative approach to financing higher education and its belief in the transformative power of education.
“Partnering with DFC highlights Prodigy Finance’s unwavering dedication to forging impactful, long-term relationships with those who truly understand the transformative potential of international postgraduate education,” said Neha Sethi, Chief Financial Officer of Prodigy Finance.
A significant part of the new funding round will focus on increasing diversity and inclusivity in education. The funding aims to ensure that 30% of the loans go to women and 50% to students from low- and lower-middle-income countries. By doing this, Prodigy Finance is continuing to break down barriers and give opportunities to those who may have otherwise been excluded from global educational opportunities.
For students from these underrepresented backgrounds, this funding can mean the difference between attending their dream school or missing out on education entirely. Prodigy Finance’s focus on women and students from lower-income backgrounds aligns with their mission to help those who will benefit the most from a postgraduate education but might struggle to finance it without assistance.
India plays a critical role in Prodigy Finance’s operations, with India accounting for the largest share of the company’s funding. As the world’s second-most populous country with a growing middle class and a keen interest in education, India is an essential market for Prodigy Finance’s global expansion.
Sonal Kapoor, Global Chief Commercial Officer, highlighted India’s significance, saying, “India continues to be a core market for our lending programs. With an ever-growing demand for quality higher education, we are proud to help Indian students access postgraduate opportunities that will allow them to thrive on a global stage.”
This new funding also complements Prodigy Finance’s previous initiatives, including a $30 million blended finance program announced in September. This program, developed in partnership with The Standard Bank of South Africa and Allan & Gill Gray Philanthropies, aims to extend educational support to students from a wide variety of backgrounds.
The impact of Prodigy Finance’s loans goes far beyond just providing financial support. According to their 2022 Impact Report, the company’s loans have had a transformative effect on students’ careers and personal achievements. Here’s what the report found:
These statistics highlight how Prodigy Finance’s loans are not just about covering tuition fees; they are about empowering students to build successful careers and achieve their dreams, creating ripple effects in communities around the world.
With the new $310 million round of funding in place, Prodigy Finance is set to further its global impact and expand its operations, particularly in India, which remains one of its biggest markets. The company’s commitment to supporting international students—especially those from underserved regions—remains at the core of its mission.
As the world becomes more interconnected, the ability to access quality education will continue to play a key role in shaping the future. By helping students from diverse backgrounds finance their postgraduate education, Prodigy Finance is not just helping individuals; they’re investing in global leadership and long-term social change.
The $310 million investment from the U.S. International Development Finance Corporation (DFC) is more than just a business deal—it’s a partnership with a powerful social mission. The fact that this funding focuses on providing loans to women and students from low-income countries underscores the importance of creating equitable access to education.
Education is a game-changer for individuals, and the ability to access postgraduate studies can lead to incredible transformations in both personal and professional life. Prodigy Finance’s continued commitment to empowering the next generation of global leaders is a step in the right direction for education and development worldwide.
By providing funding to students who otherwise couldn’t afford it, Prodigy Finance is not only helping people reach their career goals but also contributing to economic development, innovation, and global collaboration. With their unique lending model and commitment to impact, Prodigy Finance is helping change the way education is financed on a global scale.
Prodigy Finance’s $310 million funding partnership with the DFC is a major milestone in the company’s journey to provide equal access to higher education for talented students worldwide. Through their innovative lending model and focus on underrepresented communities, Prodigy Finance is helping to make education more accessible, transforming lives in the process.
As the company expands its reach and deepens its commitment to diversity, the future looks brighter for students everywhere—especially those from underserved backgrounds who now have the opportunity to achieve their dreams.
