Bcas, a platform dedicated to enabling students to access higher education without financial barriers, has closed a €17 million funding round led by MyInvestor and Actyus (Andbank Group’s venture debt fund). These funds will be used to reinforce Bcas’s leading position in Spain and fuel its ambitious international expansion plans. The latest €17 million funding brings Bcas’s total raised to €25 million, combining both debt and equity.
The European Investment Fund (EIF) has backed Bcas with guarantees for its €30 million vehicle. This agreement aims to support the training of 7,000 students in high-demand skills for the job market, regardless of their socio-economic background.
This guarantee pilot, part of the “InvestEU Skills and Education” action plan, aims to help students enter the job market by providing training in the most sought-after skills by employers.
Financial constraints are preventing thousands of students from accessing quality higher education, resulting in unequal job market opportunities. In just two years, Bcas has provided over €8 million in financing to more than 1,500 students, establishing itself as a leader in ISA financing both in Spain and across Europe.
Bosco González del Valle, co-founder and CEO of Bcas, said: “This is a significant milestone for our company. Establishing our first partnership with a bank provides us with direct access to funding. All the funds will be allocated to paying educational institutions and, in turn, supporting our continued growth.”
Founded in 2021, Bcas offers a flexible financing solution for students, enabling them to cover the cost of their education. The goal is to allow talented students, who lack financial means, to pursue post-graduate courses and high-quality training programs that enhance skills highly sought after by employers (such as cybersecurity, data science, AI, and more). With this model, students do not have to pay anything until they secure a job.
In just two years, the platform has provided over €8 million to more than 1,500 students, making it Spain’s leader in ISA funding. Bcas is recognized as an ideal financing tool to make education an equal opportunity. The company collaborates with over 60 educational institutions, including Ironhack, The Bridge, ISDI, ThePower, 4Geeks, UNIR, EIP, and HACK A BOSS, among others.
“Bcas has developed a ‘scoring’ system that has enabled us to finance over 1,500 students in just two years. We are already seeing our students securing better job opportunities. The EIF and Bcas share a common vision. This is, undoubtedly, the most significant milestone we have achieved to date,” added Javier Ausín, co-founder and COO of Bcas.
Read the orginal article: https://www.eu-startups.com/2024/06/madrid-based-student-finance-edtech-bcas-bags-e17-million-to-fuel-its-international-expansion-plans/
