FINANCE: DEALS
deals Afya announces Pebmed’s acquisition COMPANY: Afya Participações TARGET: Pebmed TRANSACTION: Acquisition CONSIDERATION: 132.9 million reais (£20.32 million) Brazilian medical education group Afya has acquired Pebmed, through its wholly-owned subsidiary Afya Participações. Pebmed offers content and clinical decision applications. The net purchase price was 132.9 million reais, with the assumption of estimated net debt of 7.1 million reais, of which 86.8% was paid in cash, and 13.2% was paid in Afya’s stock.
Education value company raises $7.6m COMPANY: AstrumU TRANSACTION: Fundraising CONSIDERATION: $7.6 million AstrumU, a Seattle-based start-up that aims to calculate the value of educational experiences in the labour market has raised funding in a round led by Kingdom Capital, with participation from Heidrick Struggles chairman Adam Warby and DocuSign founder Court Lorenzini. KC Rise Fund and City Light Capital also invested, Geek Wire has reported.
Avanse Financial raises 250 crore rupees COMPANY: Avanse Financial Services TRANSACTION: Fundraising CONSIDERATION: 250 crore rupees (£26.4 million) Warburg Pincus-led Avanse Financial Services has raised funding through the Reserve Bank of India’s targeted long-term repo operation (TLTRO 2.0) and the government’s partial credit guarantee (PCG) scheme, The Economic Times has reported. Avanse Financial Services is an education finance-focused non-banking finance company. It has received 100 crore rupees under the TLTRO 2.0 from public sector banks and 150 crore rupees through PCG scheme.
CampusLogic acquires funding platform COMPANY: CampusLogic TARGET: RaiseMe TRANSACTION: Acquisition CONSIDERATION: Undisclosed Higher education student financial aid company CampusLogic has acquired RaiseMe, a social enterprise focused on expanding access to higher education, especially among low-income and first-generation students. RaiseMe will remain located in San Francisco. CampusLogic is based in Chandler, Arizona.
Canva for Education raises $60m as valuation balloons to $6bn COMPANY: Canva for Education TRANSACTION: Fundraising CONSIDERATION: $60 million Sydney-based ed tech unicorn Canva for Education has raised new funding as its valuation reached $6 billion. Canva enables users to design “anything and publish anywhere” using drag-and-drop tools.
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EducationInvestor Global • July/August 2020
