ErudiFi: Helping Students in Southeast Asia

Singapore-based ErudiFi has already raised US$5 million in a Series A funding round co-led by Singaporean venture firms Monk’s Hill Ventures and Qualgro Partners. It works with more than 50 universities and vocational schools in Indonesia and the Philippines.

Co-founder and chief executive officer Naga Tan says that students in those countries have limited financing options, and often rely on friends or family, or informal payday lenders that charge high-interest rates.

ErudiFi partners with accredited universities and schools to offer subsidized installment plans. It also uses tech to scale up while keeping costs down.

Interest rates can be as low as 0%, with loans payable in 1-2 years.

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