Berlin-based EdTech startup Lendorse raises €1.75M to expand student financing platform for international students

Lendorse, an EdTech startup based in Berlin that advocates for educational equality for international students, has concluded a €1.75 million seed fundraising round. PI Impact and angel investor Daniel Naber participated in the round, which was led by LUMO Labs and Soulmates Ventures. Earlier, the company had received funding from Techstars, Earlybird Vision Lab, Evergryn Ventures, 4OS Capital, and Vealo Ventures.

Expanding Educational Opportunities:

Many international students are offered admission to higher education programs each year, but they are unable to do so because of financial constraints. Here is where Lendorse hopes to have an impact. The business offers advanced finance to pay for living expenses and tuition using a digital platform. Repayment is not due right away; rather, it starts as soon as graduates start working and is calculated as a certain percentage of their future earnings.

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Additionally, Lendorse provides integration tools and career counseling. These programs aim to assist students in navigating academic and career pathways throughout Europe, going beyond educational access. Lendorse, founded in 2022 by Bjoern Christian Wolf, Evgenii Avdeev, and Hannah Sharpe, ties funding to future earnings rather than credit history or collateral to make education more accessible.

Maximising Capital Efficiency:

Lendorse will use the funds to develop its platform and expand its team to meet demand. Further, the company plans to scale its reach in response to market need and increased institutional support.

Bjoern Christian Wolf, Lendorse co-founder & CEO, says:

“Behind every Lendorse investment, there is a student with a dream and the drive to pursue it. We’re not just covering costs, we are removing barriers and opening doors to opportunities that can redefine a future.”

Investors Thoughts:

According to LUMO Labs Partner Dagmar van Ravenswaay Claasen: “A proprietary underwriting engine at the heart of Lendorse’s platform assesses each applicant based on academic performance, career trajectory, and personal motivation. Furthermore, fast, reliable, and equitable funding decisions are made possible by this data-driven strategy, thereby guaranteeing that assistance reaches those who are driven to thrive in prestigious academic and professional settings. Consequently, we are delighted to assist with the expansion and introduction of this highly significant and expandable platform.” Michal Sikyta, Investment Director at Soulmates Ventures, says: “The goal of the Lendorse team is to empower the most talented students and create a more secure and resilient future. It is essential to encourage ambition, innovation, and prosperity throughout Europe. This requires equal access to education, particularly for gifted international students who popular funding sources frequently exclude. We take pride in backing a group that maximizes potential on a large scale.”

Image Credit: Lendorse