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InvestEd.ph provides education loans to disadvantaged high potential dreamers through a proprietary Risk Engine.
The round was led by Alex Tee who was the CEO of Bank of America Singapore before becoming a full-time impact investor in Southeast Asia. The other participants in the round include financial industry heavyweights such as outgoing Country Manager of MasterCard Philippines, Rowell Del Fierro and Executive Vice President of the Development Bank of the Philippines, Jose Dimayuga,
“It does not frequently happen that a capable team comes together to tackle a systemic, worthwhile problem; the solution of which has deep impact on individuals and families a long way down the road. This is exactly what is happening at InvestEd – passionate and intelligent individuals coming to advocate for vulnerable students. I consider it a true privilege leading this round of fundraising,” said Alex Tee.
The funds raised will be used to scale InvestEd’s borrower base and operations. It will also be used for further research and development on InvestEd’s proprietary Risk Engine.
“With the pandemic and the fourth industrial revolution making job markets more competitive, people need to continuously improve themselves to compete. The most affected by this are young people from low-income and poor families. They need access to education to move up the economic ladder, but have even less money to spend on it. InvestEd exists to solve this problem and our Pre-Series A investors are joining us in this mission. They are bringing not just growth capital but also their diverse expertise to help us solve the problem. We are extremely honored to have them on board,” said InvestEd Co-Founder and CEO Carmina Bayombong.
InvestEd provides education loans to financially disadvantaged learners at scale. Its suite of financial products cover lifelong learning needs spanning traditional and non-traditional tracks. InvestEd de-risks the entire lending process through its proprietary Risk Engine.
A globally awarded impact business, InvestEd currently has the biggest loan portfolio of low-income youth in the Philippines and has raised more than a million dollars of funding.