Pathrise Expands Income Share Agreement Partnership with Leif; Increases Growth Financing Capacity to $50 Million
NEW YORK, June 14, 2021 /PRNewswire/ -- Pathrise today announced the expansion of its Income Share Agreement ("ISA") partnership with Leif. Pathrise will now have access to $50 million in growth financing capacity to continue its growth trajectory by enrolling and placing more Fellows into high-paying careers in the technology field.
Pathrise has been a Leif partner since 2018. Since then, Pathrise has consistently leveraged Leif's Full Service Management Platform and its access to scalable, flexible capital to continuously expand and improve its ISA program. Assisted by its long-term partnership with Leif, Pathrise has consistently beaten its growth targets, added incremental ISA growth capital, and recently raised its Series A equity round.
Kevin Wu, Founder and CEO of Pathrise, commented: "We initially chose to work with Leif due to their full-service technology platform, proven program management capabilities, and access to capital in the very early stages of our life cycle. As we have scaled, Leif has successfully adapted their platform to our specific needs while seamlessly arranging for additional capital to scale our ISA program for the benefit of our Fellows."
"We couldn't be happier to expand our relationship with Pathrise. They have continuously demonstrated best-in-class outcomes while thoughtfully scaling their business over the past several years," remarked Jeffrey Groeber, Founder & CEO of Leif. "Leif is thrilled to partner with Pathrise as they tactically utilized outcomes-based financing to provide quality training to nearly 2,000 Fellows over the past three years at no upfront cost."
About Pathrise:
Pathrise, founded in 2017 and based in San Francisco, is a career accelerator that delivers personalized training and mentorship to job seekers in tech. Its mission is to help people get the career they want by being the world's best career agent.
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About Leif:
Leif is a technology company dedicated to increasing access to quality and affordable education. The company has developed an end-to-end platform that enables the design, origination, and program management of Income Share Agreement programs. As the infrastructure layer that powers the incentive-aligned tuition finance ecosystem, Leif partners with schools to provide students with an outcomes-oriented form of education finance. Leif enjoys the benefit as the market leader based on the following core metrics:
- 20,000 originations
- 200 partner schools
- $350 million in arranged financing
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