ErudiFi, a Singapore-based startup that offering tech-enabled education financing solutions in Southeast Asia, has secured a debt facility of $15 million from Helicap, a Singapore-based FinTech company.

ErudiFi said in a statement that this funding round will help support the firm in providing for the needs of students across the Philippines and Indonesia, by offering them affordable tuition installment plans.

“Our partnership with Helicap enables us to further our mission of expanding access to education in Southeast Asia. The need for an affordable financing solution is greater than ever with the ongoing pandemic leading to an increasing number of Filipino and Indonesian youths deferring further studies due to financial constraints,

“At ErudiFi, we are committed to making education affordable and helping build a better tomorrow for students, and we are excited to work with Helicap to expand our reach,” said Naga Tan, Chief Executive Officer and Co-Founder of ErudiFi.

Launched in 2018, ErudiFi helps students secure funding for higher education through partnerships with leading universities and vocational schools. It operates as Danacita in Indonesia and Bukas in the Philippines.

As of December 2021, ErudiFi has served more than 12,000 students and partnered with over a hundred educational institutions in Indonesia and the Philippines.

“We are delighted to have assisted ErudiFi in its goal of providing affordable education financing across Southeast Asia,” said David Z. Wang, Co-Founder and Chief Executive Officer of Helicap Pte. Ltd., the parent company of Helicap Investments and Helicap Securities.

“Helicap, since its founding, has always aimed to break down traditional barriers for those who need capital and those who can provide it. Education financing is a huge opportunity in Southeast Asia, and ErudiFi continues to shape and expand its trusted relationships with universities and partner institutions,” he added.

Since 2018, Helicap has facilitated more than $100 million in investments that improve access to financing for underbanked populations in Southeast Asia.

As a signatory of the United Nations-supported Principles for Responsible Investment (PRI), Helicap Investments uses its proprietary credit analytics technology to make high-impact investments and bridge the $500 billion financing gap in Southeast Asia.

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