Dubai's SecureMyScholarship raises $550,000
The startup plans to utilise the funds to expedite product development and expand its operations into India.
Dubai-based edtech platform has raised $550,000 in a bridge funding round, valuing the company at $6 million.
The round saw participation from investors including Kaustubh Wagle, Managing Director of Boston Consulting Group Middle East; Ramit Harisinghani, General Manager of the Devialet and Dyson brands at Chalhoub Group; and Sabban Corp Investments, a Dubai-based venture capital firm focused on early stage investments across the GCC.
The startup plans to utilise the funds to expedite product development and expand its operations into India, according to Wamda.
So far, the company has raised $1.2 million, including the latest investment.
"Our platform is 100% free for students applying for scholarships in the UAE, and for students applying for scholarships in the USA and UK, we charge a nominal one-time subscription fee of $50. Aside from scholarship support, our team also helps students with loan applications, visa applications, and university application submissions," SecureMyScholarship co-founder and CEO Craig Fernandes said.
"We now aim to connect students with $100 million in scholarships by expanding its university network, growing to new geographies, and further enhancing the platform," he added.
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SecureMyScholarship, launched in November 2021 by Craig Fernandes, connects students with scholarship opportunities. The platform lists 414 universities, including all private universities in the UAE, over 220 in the USA, and over 150 in the UK.
The startup has provided over $8.2 million in scholarships to over 1,500 students aiming to secure their desired universities, as of March 2024.
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Edited by Megha Reddy