Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Aid Beyond Trade-offs Impact en las Americas New Revivalists Women Rising in India Operation Impact
Smarter Money Women Rising 2030 Finance Locavesting Inclusive Economy Regeneration Impact Tech New Power Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Industry News Impact Management Good Business Personal Finance Faith and investing Billionaires
Gender Lens Investing Women Rising in India
SDGs Climate Finance Clean Energy Innovative Finance Full Stack Capital Long-termism
Opportunity Zones Investing in place
Entrepreneurship Return on Inclusion Good Jobs Inclusive Fintech Creative economy Housing New Schooled Well Being People on the Move
Conservation Finance Farmer Finance Financing Fish
Blockchain/AI/IoT Urban Tech Food Tech Inclusive Fintech
Human Rights Democracy and Peace News and Information
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States Growth Markets
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Edquity raises seed funding to help colleges provide emergency student aid



ImpactAlpha, January 8 – As the price of higher education has soared, millions of students are dropping out of school, often because of small but serious financial emergencies. That gives universities an economic imperative to help students weather such financial strains.

Brooklyn-based education startup Edquity calls itself a “tech-enabled anti-poverty company.” Edquity helps educational institutions identify at-risk students and provide immediate cash assistance for unexpected expenses, housing or food through the schools’ emergency aid funds.

Edquity’s partners include the Dallas County Community College District Foundation, which has a $400,000 fund for its more than 24,000 students living in poverty. The company says Dallas students have accessed nearly $100,000 in emergency cash grants through Edquity’s app to weather financial crises, including the recent tornadoes that left many students and other residents homeless.

Founder David Helene says the company’s stopgap measures are needed “until radical policy solutions are enacted to address the structural causes of the rampant financial insecurity in college.”

The company has raised a $2.4 million seed round led by ECMC Foundation. Investors include Omidyar Network, Spring Point Partners, the American Family Insurance Institute for Corporate and Social Impact, Michelson 20MM Foundation and Western Governors University’s seed fund, as well as existing investors Lumina Foundation and Strada Education Network.

As part of its seed round investment, Western Governors University will assess Edquity’s impact on its student population.  

Edquity’s new financing follows a $500,000 investment from Lumina Foundation last February and its acquisition of Baltimore-based BridgeEDU, which offers at-risk students with coaching, academic and financial support.

You might also like...