According to the company, the financing is part of the growth strategy for the next five years, which the goal is to reach 1 million students and financing BRL 10 billion in education. Pravaler also plans to expand its operation into face-to-face graduation, offering more products and through mergers and acquisitions.
In addition to offering funds to students, fintech plans to buy its own university funding portfolios. Pravaler will also launch credit for free courses this year.
To NeoFeed, Pravaler CEO Carlos Furlan said that “More than university funding, we want to become a company that offers financial solutions for education.”
Today, Pravaler’s main front is a platform on which the student simulates student financing and has pre-approved credit even before enrolling. Payment is split in double the time of graduation.
Pravaler has in its shareholder base Itaú Unibanco, the manager EOS Investimentos and the American venture capital fund Ribbit Capital.
Translated by LABS.