Student lender Future Finance raises £119m from Blackstone et al.

Other investors in the round included QED Investors, Colchis Capital, Invus Opportunities, KCK, DW Partners, Fenway Summer Ventures, Ridge Road Partners and 1/0 Capital.

Of the newly raised capital, £100m will be used for lending, supplementing the company's existing credit facility supplied by Goldman Sachs.

The investment will also be used to further Future Finance's international expansion, having recently started lending in Germany.

Company
Future Finance offers loans to students to cover tuition fees and living expenses. The loans are in addition to government loans and bursaries.

The company provides loans of between £2,500-40,000 for students facing a finance gap, and since launching in May 2014 has received 37,000 applications, representing around 1.5% of the UK's student population. It has so far lent £25m.

Future Finance operates 33 partnerships with universities in the UK.

People
Future Finance – Brian Norton (CEO).
QED Investors – Nigel Morris (managing partner).

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• Topics
• Expansion
• UK / Ireland
• Financials
• Goldman Sachs
• Blackstone Group