Prodigy Finance is a lending platform that provides postgraduate loans to international students from 118 countries attending the world’s top universities, who would otherwise have no alternative access to finance.
For more information, please visit or follow on Twitter Prodigy Finance Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris and Hong Kong. GP Bullhound is a leading technology merchant bank, providing transaction advice and capital to the best entrepreneurs and founders in Europe and beyond. This represents GP Bullhound’s 16th transaction in 2017 and another landmark FinTech transaction underlining the firm’s deep expertise in the sector, following transactions completed for clients including RatePay, Emric, Lendinvest, Slimpay, Smava, Zuto, Treasury Intelligence Solutions, PayOne, Pozitron and Payson, among others.įor enquiries please contact: Guillaume Bonneton, Partner, at or Joy Sioufi, Vice President, at GP Bullhound
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Prodigy Finance has built an exceptional platform, leveraging technology to address the global financing demand from international students.” Guillaume Bonneton, Partner at GP Bullhound commented: “We are very proud to have advised Prodigy Finance on this landmark growth round, following the previous $123m round completed in 2015. GP Bullhound has been instrumental in helping us finding the right partners and has demonstrated strong commitment every step of the way to help us realise this opportunity.” The new investment will allow Prodigy Finance to expand in the US market and grow its technology and business development teams.Ĭameron Stevens, Prodigy Finance Founder and CEO, said: “Bringing on board a leading Venture Capital firm along with a global institutional investor is a significant achievement and shows we can scale the funding. With offices in London, Cape Town and New York, Prodigy Finance is on track to double the size of its portfolio thanks to the funding round. Since inception in 2007, Prodigy Finance has financed over $325m in loans through the platform, funding over 7,100 students, without having written off a loan. Prior results do not guarantee a similar outcome.Prodigy Finance is a globally-accessible platform that provides funding to international postgraduate students attending top-ranked universities, while delivering competitive financial and social returns to institutional and private investors (including alumni). This material is for general information only and is not intended to provide legal advice. Our commitment, local and multinational expertise, and business know-how means our clients rely on us when it matters most. Our 2,800-plus lawyers deliver results worldwide through our own offices and alongside leading local firms. A London team of Chris Barratt, Paul Davidson, Joseph Biesterfield, Katy Foxall, Sarah Murray (on secondment to Prodigy) and Yuen Yuen Tan were integral to handling English and EU law and taxation issues.įreshfields Bruckhaus Deringer is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on groundbreaking and business-critical mandates. Partners and associates in New York who worked on the matter are Brian Rance, En-Min Chua and Francesca Loreto (all from New York Global Transactions), and Robert Scarborough and Dennis Caracristi (New York Tax). Prodigy is a long-standing client of the Freshfields London Global Transactions practice, and the matter was the culmination of approximately two years of work. The risk retention-compliant financing matures in October 2045, but is expected to amortize well in advance of that date. The SPV will use the proceeds of the financing on a revolving basis through June 2022 to purchase student loans originated by Prodigy to students from developing countries enrolled in graduate school studies in business and various STEM curricula at select universities located in the United States. International Development Finance Corporation (formerly OPIC) and the balance on a junior secured basis by a group of investors identified by Prodigy. The financing was obtained by an Irish special purpose vehicle in two tranches: approximately $250 million on a senior secured basis from the U.S.
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Freshfields advises Prodigy Finance on a student loan securitization with the US International Development Finance Corporation as the majority Class A Lenderįreshfields closed a $300 million student loan receivables financing for Prodigy Finance Limited, an international student loan fintech platform, on October 26th.