Edquity, an Education Finance Company, Raises $500,000 from Lumina

Financing

Edquity, an Education Finance Company, Raises $500,000 from Lumina

Jan 23, 2019

RIGHT ON THE MONEY: Edquity, which leverages technology to promote students’ financial success, has raised $500,000 from Lumina Impact Ventures, the investment arm of the Lumina Foundation, according to a press release.

With the new capital, Edquity plans to launch and grow at least three new platforms for college students, including one for cash-flow management and another for emergency financial aid. Those products will also provide a way for colleges to identify students whose financial burden is so great they risk leaving school. LaGuardia Community College and Nevada State College will be the first colleges to debut the tools later this month.

In addition to the capital raised from the Lumina Foundation, Edquity has received investments from Wells Fargo, CFSI, the Bill and Melinda Gates Foundation and the New Schools Venture Fund total $1.55 million.

 

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