# Step Exchange

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/step-exchange

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.stepex.co
- Total disclosed funding: $1.6M
- Latest round: Seed (May 14, 2021)
- Investors on record: 3

## About

Step Exchange Limited is a UK-based company focused on innovative educational financing solutions that help individuals access higher education through flexible repayment options tied to future earnings.Founded in 2017 and headquartered in London, UK, Step Exchange Limited specializes in educational financing. The company has engaged in one deal, raising GBP 1.1 million in Seed funding on May 14, 2021, led by Anthemis Group, with involvement from BBVA and Triple Point Ventures. CEO and founder Daniel George is also known for his expertise in fintech and educational finance.Step Exchange offers educational financing solutions, primarily through the Future Earnings Agreement (FEA) and Payment Plans. The FEA allows students to finance their education by paying a percentage of their future income after reaching a minimum earnings threshold. This product serves students in universities and bootcamps across the UK and potentially other regions. The Payment Plan permits students to spread tuition costs over fixed monthly installments without interest, providing a flexible alternative to traditional loans.Step Exchange generates revenue through repayments from its Future Earnings Agreement and Payment Plans. Students using the FEA agree to repay a percentage of their income once it exceeds a specified threshold, with capped repayment amounts. The Payment Plans involve fixed monthly repayments over a predetermined period, creating a predictable revenue stream for the company while accommodating the financial situations of its clients.Following its GBP 1.1 million Seed funding round in May 2021, Step Exchange intends to focus on developing its machine learning model and expanding its senior team. The company is exploring plans to launch additional educational financing products and aims to expand its operations into new geographic markets, although specific regions and timelines have not been disclosed.

## Funding rounds

- Seed, May 14, 2021, $1.6M — BBVA, Anthemis, Triple Point Investment Management

## Investors

- BBVA — Seed
- Anthemis (https://capitalatlas.ai/funds/anthemis) — Seed
- Triple Point Investment Management (https://capitalatlas.ai/funds/triple-point-investment-management) — Seed