Lendorse Secures €10 Million Financing for Over 1,000 Students from Developing Countries
Summary
These funds will enable the company to provide access to higher education in Europe for over 1,000 talented students from developing and emerging countries.Lendorse uses a Study Now, Pay Later model based on Income Share Agreements (ISAs). This model overcomes traditional barriers such as credit checks or the need for collateral, which often prevent students from accessing education. Students repay the support they receive only after graduation, as a percentage of their future income once they exceed a certain income threshold.This financing is a crucial step for Lendorse and our mission to break down financial barriers and enable more students to access education. Founded in 2022, the company is backed by investors such as Techstars, Vealo Ventures, Earlybird Vision Lab, and others. It has long-standing partnerships with blocked account provider Expatrio and universities such as HSG St. Gallen, Stockholm School of Economics, INSEAD, and others.Founders Bj\xf6rn Wolf (former McKinsey and COO of the unicorn Knuspr) and Evgenii Avdeev (serial entrepreneur of four successful companies) built Lendorse together with former bankers, risk specialists, and lawyers.