Milan based Habacus has reportedly finalized a $5 million seed funding round in order to offer students / learners an ecosystem of services, including various financial services and products.
Habacus, the Milan-headquartered student service ecosystem, has raised the new funding in order to develop its AI-powered platform and further expand its product offerings.
The investment round has reportedly been led by P101 SGR, with a €4 million investment via its funds Programma 103 and Azimut Italia Eltif Venture Capital, along with CDP Venture Capital SGR, which reportedly provided €1 million and has also converted a previous financial instrument to support the firm’s business growth.
Established back in 2017 by Paolo C., who presently serves as the Chief Executive Officer, Habacus connects education, finance, and the job market by offering services that include: educational guidance, competency certification, as well as data validation.
These reportedly allow students to gain access to loans, housing, as well as job placement opportunities.
During the past decade, the digital economy has grown tremendously and in an increasingly digital world, many traditional services such as education have blended with seamless online platforms. Acquiring financing for pursuing educational programs of study has been evolving rapidly with many institutes offering courses in digital format. It’s only natural to see more firms combine the latest Fintech innovations with emerging Edtech platforms.
Working with more than 1,300 institutions and serving over 30,000 students, Habacus explained that it is improving student financing in Italy, where the market is still growing but remains relatively underdeveloped, especially when compared to other nearby European nations.
This latest capital injection should help with improving Habacus’ innovative AI (artificial intelligence) algorithms, transforming it into a human-capital intelligence platform that streamlines access to education while also lowering dropout rates considerably.
With definitive plans to support 100,000 students by the year 2026, Habacus is positioning itself as a key player in Italy’s edtech and student financing sector, enabling innovation, sustainability, as well as the growth of human capital.