Fintech platform Bcas raises €17m for flexible financing solutions
The latest €17 million funding brings Bcas’s total raised to €25m, for the fintech platform dedicated to helping students access higher education without financial barriers.
The platform offers a flexible financing solution for students, enabling them to cover the cost of their education with the goal of allowing 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.
Under the Bcas model, students do not have to pay anything until they secure a job.
The platform has provided over €8m to more than 1,500 students since it was founded in 2021, making it Spain’s leader in Income Sharing Agreement funding.
The company collaborates with over 60 providers including Ironhack, The Bridge, ISDI, ThePower, 4Geeks, UNIR, EIP, and HACK A BOSS.
The newly gathered funding will be directed towards expanding the company and consolidating its position in Spain and Europe, the company said in a statement.
“This is a significant milestone for our company,” said Bosco González del Valle, co-founder and CEO of Bcas.
The funding round was led by neobank MyInvestor, with participation from Actyus – Andbank Group’s venture debt fund – which operates in Spain, Brazil, Mexico, the US, Israel, and six other countries.
“Establishing our first partnership with a bank provides us with direct access to funding,” said González del Valle, adding that all the funds will be allocated to paying educational institutions and, in turn, supporting the platform’s “continued growth”.
This capital injection will allow us to continue growing nationally and expand throughout Europe
Bosco González del Valle
“This capital injection will allow us to continue growing nationally and expand throughout Europe,” he continued.
The news comes after the company received significant backing from the European Investment Fund through a guarantee pilot to build an Incoming Sharing Agreement credit portfolio of up to €30m.
The 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.
“It is increasingly evident that the Income Sharing Agreement is the perfect tool for students to continue their education without worrying about the cost, enabling them to access today’s job market” said González del Valle.
According to Javier Ausín, co-founder and COO of Bcas, the company has developed a “scoring system” that has enabled it to finance over 1,500 students in just two years.
“We are already seeing our students securing better job opportunities,” said Austin.
“The EIF and Bcas share a common vision, and through this collaboration, we aim to support over 7,000 students in the coming months, mobilising up to €30m. This is, undoubtedly, the most significant milestone we have achieved to date.”
