Funding round
Prodigy Finance Growth
Reported as "Growth Equity"
Prodigy Finance, which works in international student loan financing in London, raised $750M in a Growth round announced on 23 Sep 2021, led by CPP Investments. 5 firms took part. It is Prodigy Finance's second venture round on record; the one before was a Series C in Aug 2017.
$750M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Prodigy Finance did not disclose a valuation in this round. It came 49 months after Prodigy Finance's Series C. It is 66% of the $1.13B Prodigy Finance has raised in the venture rounds on record. Prodigy Finance raised again 36 months later: a Growth round of $30M in Sep 2024.
Prodigy Finance's funding rounds
Prodigy Finance has 4 venture rounds on record and 2 other deals. This one is highlighted.
Investors
Who put money in
CPP Investments led the round with 4 other firms.
Lead investor
- CPP Investments new investor
Also in the round
- backs 16 venture-backed companies new investor
- Chancellor's Future Fund new investor
- Balderton Capital backs 140 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
45 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 9.4 times the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 8 Sep 2021 | $120M | $700M | Apis Partners |
| MNT-Halan Loans & Financing | 8 Sep 2021 | $120M | not disclosed | Apis Partners |
| Loans & Financing | 28 Sep 2021 | $50M | not disclosed | Lightrock |
| GoodLeap Loans & Financing | 13 Oct 2021 | $800M | $12.00B | BDT & MSD Partners |
| Loans & Financing | 4 Oct 2021 | $120M | not disclosed | Sequoia Capital and Creation Investments |
| Loans & Financing | 4 Oct 2021 | $27M | not disclosed | not named |
| Clearco Loans & Financing | 8 Jul 2021 | $215M | not disclosed | SoftBank Vision Fund |
| Loans & Financing | 8 Nov 2021 | $120M | $850M | Fidelity Management & Research Company, LLC and Visa |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Prodigy Finance raise in its Growth round?
Prodigy Finance raised $750M in its Growth round, announced in Sep 2021.
Who led Prodigy Finance's Growth round?
CPP Investments led it, with U.S. International Development Finance Corporation, Chancellor's Future Fund, Balderton Capital and Index Ventures.
What was Prodigy Finance's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Loans & Financing?
45 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 9.4 times the median.
Did Prodigy Finance raise again after this round?
Yes: a Growth round in Sep 2024 of $30M.