ErudiFi offers tech-enabled school financing and tuition payment plans to help students access further education. It partners with universities and vocational institutions to originate and manage education loans, operating as Danacita in Indonesia and Bukas in the Philippines. The company says it has served over 12,000 students and worked with more than 100 educational institutions as of December 2021. ErudiFi plans to expand access to education in Southeast Asia by scaling its financing products and partnerships. Financially, the company secured a US $15 million lending facility to fund student loans and previously raised a $5 million Series A in February 2021. ErudiFi was founded in 2018. ErudiFi offers technology-enabled, data-driven installment financing to students by partnering with accredited universities and vocational schools, with interest rates and repayment terms set by each institution (rates can be as low as 0% and loans payable over 12–24 months). The company currently works with more than 50 universities and vocational schools across Indonesia and the Philippines and aims to increase student recruitment and retention by making tertiary education more affordable. ErudiFi says its product scales through technology while keeping costs low, addressing limited formal financing options that often push students toward friends, family, or high-interest informal lenders. The startup is headquartered in Singapore and operates in Indonesia and the Philippines. ErudiFi raised capital to invest in its product and engineering teams and to expand further in Indonesia and the Philippines. CEO Naga Tan leads the company as it pursues growth in these markets.

Total raised

$20M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Jan 2022