Adventum Student Living (ASL), a study-abroad platform that owns the UniAcco, UniCreds and UniScholars brands, has raised a bridge equity round of $5 million led by new investor Cornerstone Ventures (CSVP Fund) and existing investors as a bridge to its proposed Series B round of $20 million.
ASL is a unified student lifecycle management platform assisting students in their application-to-accommodation journey with a digital-first approach. To date, ASL has benefitted over 5,00,000 students through its platforms.
The new investment will enable ASL to continue its mission of transforming the student lifecycle while expanding its product offerings to meet the needs of students, universities, educators, and administrators. The investment will also be used to strengthen its position and build deeper partnerships in key geographies of the UK, EU, Canada, Australia, and USA, said the company.
“Despite the economic challenges brought on by Covid-19, when many of our peers were struggling for survival, our business soared through the market turbulence and achieved an impressive 300 per cent y-o-y growth since then. We will continue to unify student journeys on our platform and strengthen our product portfolio across geographies,” said Amit Singh, founder, and CEO of ASL.
UniScholars said it had placed students in more than 100 universities worldwide, providing counselling and support services throughout the admissions process. UniCreds, an extended arm of UniScholars, has facilitated over $100 million in education loans through banking and NBFC partners, ensuring that financing is not a barrier to academic success.
UniAcco, the other extended arm of UniScholars, offers an inventory of over 3.5 million student accommodation beds in the UK, EU, Canada, and Australia, working with property owners and managers to provide safe, comfortable, and affordable accommodation options to students.