TMCnet News
Kuepa Closes $3 Million Convertible Loan from Multilateral Investment Fund and Inicia FundKuepa closed a $3 Million convertible loan from the Multilateral Investment Fund and Inicia Fund. This investment will allow Kuepa to continue opening new schools and expand its vocational training programs in Mexico, Colombia, and the rest of Latin America. "We are very excited to work with Kuepa in expanding education opportunities to working adults in Latin America through affordable market-based solutions," says Oscar Farfan of the IDB's Multilateral Investment Fund. Over 30,000 young-adult students have taken vocational courses with Kuepa over the last three years. Kuepa currently employs more than 250 people across 5 countries. Over 90 of them are teachers and tutors. "Vocational and technical training is much needed in Latin America, where the majority of the population doesn't graduate from college but still needs skills to improve in their careers," says Antonio Caparros, Director of Inicia Fund. "We are happy to keep supporting Kuepa, which is leading this market." Kuepa President and Co-Founder Gabriel Sanchez Zinny states, "it's a great opportunity to be working with MF and Inicia in providing blended learning employability training in Latin American countries. Both institutions will add strong strategic vision and solid knowledge to our team." About Kuepa (www.kuepa.com) Kuepa provides workforce development through blended and online learning solutions to adults throughout Latin America and the United States. Through its proprietary platform and blended learning content, Kuepa has trained over 30,000 students since its founding three years ago. About MIF (www.fomin.org) The Multilateral Investment Fund (MIF), part of the Inter-American Development Bank, supports economic growth and poverty reduction in Latin America and the Caribbean through the encouragement of increased private investment, and advancing private sector development. About Inicia (www.fundacioninicia.org) INICIA is a social investment fund whose objective is to strengthen educational systems in the region through innovation and investing in new ventures.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150901005586/en/ |
