Ed Partners Africa secures $1.5 million funding to enable loan facilities for educational initiatives
Ed Partners Africa, a trailblazing non-banking financial institution, is poised to ignite a transformative wave within the education sector as it rallies new funding to do just that.
The Kenya-based startup specializes in providing infrastructural loans to embark on transformative projects. These encompass infrastructure, technology, and transport, touching the lives of more than 100,000 students across an impressive network of 350 schools according to data shown on its website.
In June 2021, the education-focused startup raised $1.9 million in a seed round, which went into providing infrastructural loans to educational institutions.
Building upon this momentum, the startup is now poised to harness the impact of a newly secured $1.5 million in debt funding from the social impact investor, Oikocredit, known for its commitment to empowering low-income individuals across Africa, Asia, and Latin America to uplift their living standards sustainably, to fuel the same cause.
The combined impact of these funding rounds amounts to a substantial total of $3.4 million, per data from Crunchbase.
Notably this strategic funding collaboration with Oikocredit further increases Ed Partners’ capacity to provide essential loan facilities to affordable private schools to expand and improve their infrastructure in line with the requirements of the new education curriculum in Kenya.
It also opens up opportunities for the "implementation of innovative educational initiatives, such as curriculum development, teacher training programmes, educational technology integration, and research projects," Oikocredit’s investment officer in East and Southern Africa, Lewis Nyaga, noted.
