Student management

FE News – Blackbullion raises £2.5m to accelerate student financial wellbeing and tackle cost of living crisis

Financial wellbeing platform Blackbullion today announced a £2.5 million investment round to accelerate financial wellbeing for students.

The new round of funding will scale up the platform’s growth, guiding Blackbullion’s mission to simplify the complex world of finance for young people, while connecting them with scholarships and additional funds during their studies.

The oversubscribed round was led by Calyx Venture Fund with existing investors including Lord Stanley Fink and MPA Education also participating; Blackbullion is the first investment from MPA’s second fund.

Blackbullion’s platform is deployed by over 50 universities, colleges and higher education institutions in the UK, Ireland, New Zealand, Australia and South Africa. Over 1.2 million students have access to the platform and 92% of them report increased financial confidence as a result. To date, Blackbullion University Partners have awarded £10 million in funds to nearly 15,000 students through their proprietary fund management system.

Vivi Friedgut, Founder and CEO of Blackbullion, said:

“We founded Blackbullion to make financial wellness accessible to all young people, through excellent financial education and better, more inclusive access to funds. The current cost of living crisis makes this more urgent than ever, as we continue to create solutions that are truly focused on the specific financial needs of students. We are beyond excited to realize this, with this new breed of operator-led investors, as we head into our next phase of growth. »

The investment will be used to develop product development, fund-specific features and an ambitious hiring plan. He will also support the integration of The Scholarship Hub into the Blackbullion platform, following its acquisition this spring.

Melody Lang, Founding Partner of MPA Education, comments,

“The current economic climate means that financial education and wellness are more urgent than ever; we couldn’t be prouder to launch MPA Education’s second fund with Blackbullion, to scale the platform globally. Kudos to Vivi for achieving this goal in what has been the toughest augmentation environment in years.

Chris Donegan of the Calyx Venture Fund adds,

“It was an opportunity for us to invest in a financial technology company truly committed to taking up a major global challenge, that of fostering financial inclusion, through financial education. Blackbullion has a solid business model, great leadership and real business fundamentals, which is why it’s such a good proposition for us. We look forward to working with Vivi and her team to help accelerate this mission.

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