Student Finance, a European FinTech that offers flexible payment plans for education, has raised $41m in Series A funding.
According to StudentFinance, The World Economic Forum predicts that the world will need to retrain 1 billion people by 2030 in order to match the growth trend in technology required jobs.
As such, Student Finance is developing AI models to map the future of the most in-demand skills across regions and industries. The company said the insight gained from its models help determine opportunity within the markets and guide graduates into jobs and estimate their future earning potential.
Student Finance is a private lending company operating in Spain, Portugal and the UK and is not affiliated with Student Finance England.
According to a report from TechCrunch, the equity element was led by Iberis Capital, with participation from Armilar Venture Partners, Mustard Seed Maze, Giant Ventures, Seedcamp , Monzo founder Tom Blomfield, and former U.K. MP Ed Vaizey. The debt element was provided by French asset manager SmartLenders Asset Management.
Mariano Kostelec, CEO and co-founder, said, ““We monitor and track publicly available job listing data, showing trends and fluctuations in labour demand. We also use data from analyzing systemic and market changes such as government incentives for companies to become ‘greener.’ This gives us data on future growth — or declining — sectors.
“The demand for workforce upskilling has never been greater. We’re on a mission to plug this gap across Europe. We aim to expand our coverage to build the workforce for the future, in particular in areas such as technology, AI and climate change.”
Last year, Financial wellbeing platform Blackbullion scored £2.5m in investment round as it aims to accelerate financial wellbeing for students.
Blackbullion’s platform is currently deployed in over 50 universities, colleges and higher education organisations across the UK, Australia, New Zealand, South Africa and Ireland.
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