Fintech
Fintech platform Bcas raises 17 million euros for flexible financing solutions
The latest funding of 17 million euros brings the total raised by Bcas to 25 million euros, for the fintech platform dedicated to helping students access higher education without financial barriers.
The platform offers a flexible financing solution for students, allowing them to cover the costs of their education with the aim of enabling talented students who lack financial means to pursue high-quality postgraduate courses and training programs that improve skills highly sought after by employers such as cybersecurity, data science, artificial intelligence.
Under the BCas model, students do not have to pay anything until they get a job.
The platform has provided over 8 million euros to more than 1,500 students since it was founded in 2021, making it a leader in Spain in financing income sharing agreements.
The company works with over 60 vendors including Ironhack, The Bridge, ISDI, ThePower, 4Geeks, UNIR, EIP and HACK A BOSS.
The newly raised funds 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 financing round was led by neobank My investorwith the participation of Attius – Andbank Group’s venture debt fund, which operates in Spain, Brazil, Mexico, the United States, Israel and six other countries.
“Establishing our first partnership with a bank provides us with direct access to financing,” González del Valle said, adding that all funds will go towards paying for educational institutions and, in turn, supporting the “continued growth” of the platform.
This capital injection will allow us to continue to grow domestically and expand across Europe
Gonzalez del Valle Forest
“This capital injection will allow us to continue to grow domestically and expand across Europe,” he continued.
The news comes after the company received significant support from the European Investment Fund through a pilot guarantee project to build an incoming sharing agreement credit portfolio of up to €30 million.
The guarantee pilot project, part of the InvestEU Action Plan for Skills and Education, aims to help students enter the labor market by providing training in the skills most in demand by employers.
“It is increasingly clear that the income-sharing agreement is the perfect tool for students to continue their education without worrying about costs, allowing them to access today’s job market,” said González del Valle.
According to Javier Ausín, co-founder and chief operating officer of Bcas, the company developed a “scoring system” that allowed it to finance over 1,500 students in just two years.
“We are already seeing our students secure better job opportunities,” Austin said.
“The EIF and Bcas share a common vision and, through this collaboration, we aim to support over 7,000 students in the coming months, mobilizing up to 30 million euros. This is undoubtedly the most significant milestone we have achieved to date.”