Leif, a technology company dedicated to increasing access to quality and affordable education, has completed a strategic financing round totaling more than USD60 million. Leif intends to use the new financing to strategically expand its platform to meet the increasing demand for outcomes-aligned tuition financing solutions, which have had significant impact for students and schools.
The strategic financing includes:
- LL Funds, LLC, an independent investment firm focused on specialty consumer finance investments, has committed a new USD50 million credit facility to Leif’s platform of existing capital partners and has committed to invest USD10 million in equity
- Insita Group LTD, a non-profit focused on education and workforce development, has made an equity investment in Leif. Terms of the investment were not disclosed
Leif is the Tuition Finance Management Platform that provides end-to-end, outcomes-aligned tuition financing solutions to help industry leading education providers across a variety of fields unlock full program growth and potential. Leif is the only outcomes-based tuition finance Program Manager with a track record of performance in outcomes-based education finance over its four-year history. As the leader in its space, Leif has partnered with over 200 schools and has arranged financing solutions, allowing schools to increase enrollment and educate nearly 20,000 students. In many cases, Leif’s partner schools have seen an increase in enrollment of close to 100 per cent by offering outcomes-based financing through Leif with a specific focus on increased diversity in their student population.
Jeffrey Groeber, CEO of Leif, says: “We are pleased to have the support of a prominent institutional investor and mission-driven social impact capital for this strategic financing. LL Funds’ expertise in specialty finance lending and Insita’s focus on meaningful improvement in outcomes for lower income youth and families in the United States will help us extend our leading capital markets expertise while fulfilling Leif’s mission of increasing access to quality and affordable education. We could not ask for better interest-aligned partners as we continue to grow and expand Leif’s platform.”
“Leif is truly a unique, full-service program manager providing outcomes-aligned tuition financing solutions that are making a positive impact in the access and affordability of higher education for students,” says Shivraj “Raj” Mundy, Partner at LL Funds. “Leif has successfully managed meaningful cohorts of contracts through their full-life cycle – from program design and contract origination through fulfillment. We are thrilled to support such an impact-driven company in the next stage of its evolution and we look forward to collaborating with the talented team at Leif.”
Leif has partnered with close to 100 schools over the past year, facilitating the close of over USD300 million in growth capital to drive the expansion of tuition financing and ISA programs, including: USD25 million to Fullstack Academy, USD25 million with Rithm School, USD10 million with Entity, USD10 million with Burlington Code Academy, USD25 million with Victory Lap, USD20 million with Kingsland University, and USD20 million with Medical Interpreting and Translating Institute Online, among others.
