Kenyan Edtech Startup Ed Partners raises $1.9m Funding
Kenyan Edtech startup Ed Partners has announced it raised $1.9m in funding. The round was secured by global social impact investors Acumen, I&P, Zephyr, and other existing investors.
Ed partners were founded in 2018 by the duo of Lydia Koros and David FitzHerbert with the aim of improving access to affordable, quality education in Africa. The startup has since provided loans to affordable private schools by bringing access to formal credit to their doorstep.
On the back of its investors, Ed Partners has been able to disburse $1.5m to 142 schools and reaching out to 41,000 students in the process.
Amos Mwangi, chief executive officer (CEO) of Ed Partners Africa speaking on the funding said that the startup’s bid to improve the quality of education received by learners from low-income communities.
“With this additional investment, we will be able to extend much-needed funding to more affordable private schools in Kenya,” said Amos.
Abdulkarim Mohamed, portfolio manager at Acumen also added that affordable education plays an important role in Kenya.
“Affordable private schools in Kenya play an important role in delivering education and can be integral to breaking the cycle of poverty”.
“We are excited to support Ed Partners Africa with the first investment from our Education Facility and will work with them to strengthen school infrastructure and improve access to quality education for children from low-income households,” said Abdulkarim.