Leif, which aims to increase the access to quality and affordable education, has netted over $60m in a strategic financing round.
LL Funds, an investment firm focused on specialty consumer finance investments, supplied $50m in credit and $10m in equity. Furthermore, Insita Group, a non-profit focused on education and workforce development, made an undisclosed investment into Leif.
Capital from the round will be used to meet the rising demand for outcomes-aligned tuition financing solutions The company also hopes to grow its team of 25 to exceed 50 over the course of the next 12 months.
Leif offers end-to-end tuition financing solutions to help education providers unlock full program growth and potential by offering students income share agreements.
The company has partners with around 100 schools in the past year, facilitating the close of more than $300m in growth capital to drive the expansion of tuition financing and ISA programmes.
LL Funds partner Shivraj “Raj” Mundy said, “Leif is truly a unique, full-service program manager providing outcomes-aligned tuition financing solutions that are making a positive impact in the access and affordability of higher education for students.
“Leif has successfully managed meaningful cohorts of contracts through their full-life cycle – from program design and contract origination through fulfilment. We are thrilled to support such an impact-driven company in the next stage of its evolution and we look forward to collaborating with the talented team at Leif.”
Copyright © 2021 FinTech Global