Venture Hive is more than excited to welcome Quotanda to the family. Quotanda is a social lending business focused on democratizing access to education. The company provides student-financing solutions focused on international students and loans.
The founder and CEO Grant Taylor graduated from IESE Business School Barcelona in 2012 and stayed to launch Quotanda there. He recently moved to Miami to set-up Quotanda’s US headquarters. “Miami seemed the ideal location given our focus on international students and schools. Many international educators are based in Miami and it is clearly the conduit for the US and Latin America”. The team was accepted to the Venture Hive’s incubator program, which Grant calls, “the center of Miami’s entrepreneurial universe”.
With co-founders Bill Hubert (San Francisco) and Lino Pujol (Barcelona), Quotanda is democratizing access to education. “Think of Quotanda as LendingClub for international students”, says Grant. Quotanda raises money from private investors, accredited individuals including alumni and professors as well as institutional investors that invest in student loan portfolios and generate a strong return. Quotanda’s revenue comes from student origination fees and annual management / servicing fees.
Grant and Bill attended the LendIt conference in San Francisco last week where they found interest from individual and institutional investors participating in other Peer-to-Peer (P2P) loan platforms. However, “most of the investments we have had from the US have come from Miami investors”, says Grant.
Quotanda launched their first loan program last year at IESE Business School in Spain. They have since had over $5M in loan applications and made four hundred thousand dollars in loans to MBA students at IESE Business School (ranked #5 in the world by the Economist). They are expanding with top educators in Spain and launching in the US this summer, raising both debt for student loans and equity for expansion of their lending platform.