Prodigy Finance raises a total of $750M from CPP Investments
Summary
Established in 2007, Prodigy Finance strives to make university education accessible for every worthy student irrespective of their socio-economic background. In India, it claims to grant education loans to Indian students without security, a co-signer, or guarantor at over 800 schools across the world in the areas of Marketing and Business Administration, Engineering, Law, Public Policy, and Health Sciences. In a statement, Mayank Sharma, Country Head for Prodigy Finance India said, “We are pleased to have secured this substantial infusion of funds. We are confident that this funding will prove instrumental in transforming the future of numerous deserving students across the Indian-subcontinent who otherwise would never have been able to follow their dreams of studying in a top foreign university.” The company claims to offer a unique global credit model, which evaluates applicants on several parameters. Derek Jackson, Managing Director, Head of European Credit, CPP Investments said, “This financial commitment to Prodigy Finance is a great example of our ability to provide flexible funding solutions to complex business needs and fits well with CPP Investments’ credit strategy of investing our patient capital with leading partner organizations.” “Achieving this important funding milestone is another step towards achieving our goal of helping over 25,000 students every year,” added Neha Sethi, Head of Capital Markets, Prodigy Finance.