Prodigy finance secures $310 million from DFC to boost socially impactful education loans

Prodigy Finance, a global leader in higher education financing, recently announced the launch of new round of funding worth up to $310 million. This marks their second partnership with the U.S. International Development Finance Corporation (‘DFC’).

This recent partnership builds on Prodigy Finance's ongoing relationship with the DFC and reinforces the company's mission to support international students in accessing top-tier education.

The round sets a minimum financing threshold of 30% for women and 50% for those from low—and lower-middle-income countries, aligning closely with Prodigy Finance’s mission to enable equal access to transformative education worldwide.

Unique lending model and global reach

Founded in 2007, Prodigy Finance operates on a unique, borderless lending model that evaluates students' potential based on future earnings rather than current financial status or credit history.

To date, the firm has funded over US$2.3 billion in postgraduate education loans to over 43,000 students from more than 150 countries across the globe.

“Partnering with DFC highlights Prodigy Finance’s unwavering dedication to forging impactful, long-term relationships with those who truly understand the transformative potential of international postgraduate education,” said Neha Sethi, Chief Financial Officer.

“Together, we’re empowering a new generation of global leaders to unlock opportunities that shape a brighter future," Sethi added.

Focus on India and expanding partnerships

India holds a significant place in Prodigy Finance’s operations, representing the largest share of its funding. Sonal Kapoor, Global Chief Commercial Officer, noted the critical role of India as a core market for the company’s lending programs.

The new $310 million funding complements Prodigy Finance’s recent initiatives, including a $30 million blended finance program announced in September.

This initiative was launched in collaboration with The Standard Bank of South Africa and Allan & Gill Gray Philanthropies to extend support to students from various backgrounds.

Proven impact and student success

The Prodigy Finance 2022 Impact Report highlighted the transformative nature of its loans. According to the report, 91% of students felt the financing enabled them to pursue their career ambitions, while 74% reported doubling their salaries after graduation.

Additionally, 83% of students claimed that the loans had a positive effect on their personal achievements.