StudentFinance, a Madrid, Spain-based company that manages income-share agreements (ISAs) for education providers, has raised €1.15 million (approximately US $1.3 million) in a seed round from led by Mustard Seed Maze and Seedcamp, and joined by José Neves, Rolf Schrömgens and Nuno Sebastião.
Founded in 2019, StudentFinance works with European educational programs to access capital and set up ISAs, the financing model in which students pay no tuition upfront but instead pay a percentage of their future salary. It also partners with employers to help place graduates from these programs into jobs. The company describes itself as the “Vemo of Europe,” in reference to a U.S.-based provider of similar services.
The funding will also support the company’s effort to refine its predictive model technology that it claims can evaluate a program’s quality, and the income potential of its graduates, based on real-time job market data.
