Funding round
Prodigy Finance Series C
Prodigy Finance, which works in international student loan financing in London, raised $40M in a Series C round announced on 21 Aug 2017, led by Index Ventures. 3 firms took part. It is Prodigy Finance's first venture round on record.
$40M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Prodigy Finance did not disclose a valuation in this round. It is Prodigy Finance's first venture round on record, 10 years after it was founded in 2007. It is 3.5% of the $1.13B Prodigy Finance has raised in the venture rounds on record. Prodigy Finance raised again 49 months later: a Growth round of $750M in Sep 2021.
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
Index Ventures led the round with 2 other firms.
Lead investor
- Index Ventures backs 353 venture-backed companies new investor
Also in the round
- Balderton Capital backs 140 venture-backed companies new investor
- AlphaCode new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
11 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $28M, and this round was 1.4 times the median. The closest in time, other companies' Series C rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 20 Jul 2017 | $13M | not disclosed | North Atlantic Capital |
| Kiavi Loans & Financing | 17 Oct 2017 | $57M | not disclosed | not named |
| Loans & Financing | 6 Nov 2017 | $15M | not disclosed | not named |
| Creditas Loans & Financing | 11 Dec 2017 | $50M | not disclosed | VEF |
| Tala Loans & Financing | 17 Apr 2018 | $50M | not disclosed | Revolution |
| Loans & Financing | 4 Oct 2016 | $34M | not disclosed | Runa Capital |
| iwoca Loans & Financing | 4 Oct 2016 | $27M | not disclosed | Prime Ventures |
| Konfío Loans & Financing | 18 Jun 2018 | $25M | not disclosed | VEF |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Prodigy Finance raise in its Series C round?
Prodigy Finance raised $40M in its Series C round, announced in Aug 2017.
Who led Prodigy Finance's Series C round?
Index Ventures led it, with Balderton Capital and AlphaCode.
What was Prodigy Finance's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Loans & Financing?
11 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $28M, and this round was 1.4 times the median.
Did Prodigy Finance raise again after this round?
Yes: a Growth round in Sep 2021 of $750M.