Tech firm educating young people about finance secures £400K
An EdTech company providing financial literacy to students has secured a second-round investment of £400K.
Blackbullion’s funding was led by Lord Stanley Fink, who will also join the start-up's board as chairman.
Additional investments came from MPA Education, Emerge Education and JISC, the membership organisation providing digital solutions for UK education and research.
The funding will be directed towards new product development and expanding its existing suite of solutions for universities.
Founded by former wealth manager Vivi Friedgut in 2014, Blackbullion has set itself the challenge to deliver financial education to a million students within the next two years.
"Money is the last great taboo and it's our goal to ensure an engaging and effective financial education for young people," said Friedgut.
"We're seeing more universities look at making financial learning mandatory but there's still a way to go. Working in partnership with universities means we can drive understanding, empower students with real-world money skills, and help build the confidence and tools they need to design the life they want beyond graduation."
Blackbullion currently supports 500,000 students across the UK, Australia and New Zealand, through partner universities, including King's College London, The University of Edinburgh, and the University of South Australia.
The start-up has a strong track record in widening participation cohorts, especially for first-in-family students. Its platform is actively used as part of partner university student retention strategies.
Melody Lang, Advisor and Investor at MPA Education summarised their decision to invest in Blackbullion.
"Very excited to be backing a company with such an important mission, but also one of the most impressive founders I ever met,” she said.
“Vivi's creating a real legacy through her tech for good ethos and this platform."
Jan Lynn-Matern, CEO and Co-founder at Emerge Education, added: "Financial education is one of the fundamental pillars of becoming a well-rounded adult.
“Despite its importance, it remains very underrepresented in today's education systems - from schools to universities.
“We're thrilled to support Blackbullion in its mission to bring this crucial life skill closer to universities and students, and continue its exciting growth journey."