Melbourne-based education fintech Study Loans has secured a $50 million facility from Australian credit fund Alceon, Australian FinTech has reported.
Study Loans, which is backed by Simonds family office, stated that its funding and instalment payment products enable education providers to enrol all students who want to pursue study and access working capital more quickly.
Study Loans’ chairman Anthony Hynes said: “The facility provides us with more firepower and flexibility to provide unique, tailored solutions to education providers, enabling them to grow enrolments and address challenges in the sector. Importantly, Alceon also has aspirations to grow the facility with us in the future, to help enable our aggressive growth plans.”
Date published: 14 July 2021