Dealflow | September 7, 2021

Microverse secures investment to expand income share agreements for global talent

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, September 7 — The Latin-led edtech, which is looking to connect at least one million young software developers from emerging markets to remote international jobs by 2030, received an investment from Amsterdam-based Rubio Impact Ventures (formerly Social Impact Ventures) as part of a recent $12.5 million Series A funding round.

The financing “comes at a pivotal moment when demand from potential students to learn to code and from companies looking for global talent has never been higher,” said Microverse’s Ariel Camus.

Income share agreements

ISAs allow students to attend college, coding bootcamps and other educational and vocational training programs with little to no upfront tuition in exchange for a fixed percentage of their future income.

Microverse is using ISAs to upskill young professionals. Nine out of 10 of the students, from countries such as Nigeria, Mexico, Columbia, Brazil, Kenya and India, are employed within three months after graduating.