Index leads $40m series-C for Prodigy Finance

Existing backer Balderton Capital also took part in the round, alongside AlphaCode.

In addition to the equity funding, Prodigy Finance also secured a $200m debt facility from an undisclosed international bank.

The fresh funding will enable the company to expand its operations, in addition to increasing its pool of deployable credit. The business is currently expanding its footprint in the US market.

Previous funding
Balderton and Credit Suisse led a $100m funding round for Prodigy Finance in August 2015. A breakdown for the $100m round was not disclosed, but a source told unquote" at the time that it comprised a $12.5m equity injection by Balderton and a $87.5m loan from Credit Suisse.

Company
Founded in 2007 and headquartered in London, Prodigy Finance provides postgraduate loans for international postgraduate students, particularly those from countries that offer limited access to financing for education. The company bases its lending criteria on students' potential future earnings, rather than historical credit records. It also enables alumni of postgraduate business schools to invest funds into its credit pool.

People
Index Ventures – Neil Rimer (partner).
Prodigy Finance – Cameron Stevens (founder, CEO).

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• Topics
• Expansion
• Financials
• UK / Ireland
• United Kingdom
• Index Ventures
• Venture