Bukas PH is addressing the Philippines’ education financing gap by helping underserved students achieve their educational aspirations through installment tuition plans.
Just recently, ErudiFi, a tech-enabled company providing access to affordable education financing in Southeast Asia and responsible for the operations of Bukas PH, announces the close of a US$5 million Series A round co-led by Monk’s Hill Ventures and Qualgro.
The funding will be used to make key hires across product and engineering, marketing and operations, business development, and data functions. The company also plans to scale ErudiFi’s education financing services, deepen its footprint in existing markets in the Philippines and Indonesia with educational institution partners, and invest in product innovation to deepen ErudiFi’s engagement and relationship with students and schools.
To date, Bukas has onboarded partner institutions nationwide like Mapua University, Far Eastern University, Adamson University, Our Lady of Fatima University, PHINMA Education Network, University of Nueva Caceres, Centro Escolar University, and Eskwelabs, among others.
“With our network of partner schools, we hope to reach as many students as possible across the country. At Bukas, we believe that making education more affordable will provide a better tomorrow for Filipino families,” Jon Robert Emlano, Bukas Country Manager for the Philippines shared.
Today, ErudiFi’s tech-enabled platform has helped secure funding for thousands of financially underserved students and has grown 3x in 2020. With its Study Now, Pay Later model, ErudiFi facilitates education financing for students in Southeast Asia, beginning with the Philippines and Indonesia. Working with accredited schools and universities, ErudiFi offers data-driven financing solutions that support student recruitment and retention, which allows students the opportunity to achieve their aspirations by overcoming financial constraints in paying for educational programs.
Jericho P. Orlina, AVP for Business Affairs of Centro Escolar University shared in an interview that they are grateful for the financing option that Bukas.ph provides as it has been of great help to their students and families. They positively highlighted that this partnership can enable more students to continue with their studies, especially during these trying times.
“Education financing is a huge opportunity in Southeast Asia. ErudiFi provides a tech and data-driven platform to make access to financing easier for more students while enabling universities and schools to manage and monitor their student pipeline more effectively. ErudiFi aims to shape trusted relationships with universities and partner institutions as they expand in the region and the Qualgro team is excited to work closely with them to scale their reach,” said Heang Chhor, founder and Managing Partner of Qualgro.
For more information on the education financing solutions, you may find out more through www.bukas.ph.