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Students in school, one loan at a time
Kushal ChakrabartiCo‐Founder and CEO, Vittana Foundation
Lend $25 to Katherine studying administration
“Secret Sauce”
• vocational school
• urban
• children of current microfinance borrowers
• partner with microfinance banks, who manage loans
• emerging vs. developing countries
http://www.vittana.org/lend
Lend $25 to Katherine studying administration
Typical loan
• 18‐25 years old
• 6‐24 mos. to full repayment
• $500‐$1500 total amount
• bank teller is #1 profession
• Peru, Paraguay, Mongolia, Vietnam
http://www.vittana.org/students/...
Microfinance — $17.1 billion platform for student loans
$732M
$116M
$36M
$16.2B
$0.9B
Products
• Business loans
• Home loans
• Credit lines
• Next: Student loans
Why no student loans in developing world?
• Until student loan model is proven, capital won’t flow in
• Until capital flows in, model can’t be proven
• MF banks want to lend to students: HKL, Ujjivan, XacBank, AFODENIC, FuPa, mimo, etc.
Student micro‐lenders from across the US
$1000 of SROI for every $1 of angel philanthropy
• Break‐even after 9 Qs + $600K angel today
• $25M student loans over same period
• Per $800 loan, $20K in add’l wages for grad
• Equals SROI of $1000 for every $1 of angel today
$0
$250
$500
$750
$1,000
Your Angel Dollars Your Impact
(it’s there, I promise!)
But, the big, BIG bet — Jump‐start something massive
Think 5 years out...
• 100,000 students = $100M loan portfolio
• 97% repayment rate (as now)
• by def., 5 years
Jump‐start global, billion‐dollar market in student loans — short‐circuit “normal” by 15‐20 years
Team: Energy of youth + Wisdom of age
Kushal ChakrabartiCo‐Founder and CEO• Ran Amazon personalized recommendations
team ‐‐ 25+ patents, papers, talks• 2x Ironman triathlete
Brett WittCo‐Founder and CTO• Programming for 16 years• Built Amazon systems serving customer
purchase data
Nick CainInternational Partnerships Manager• Newest hire, most recently at Kiva• B.A., Columbia ‘06
Selected Advisors:Matt FlanneryKiva, CEO
Dave McClureFounders Fund, Partner
Mike MurrayUnitus, Founder
Kim RachmelerAmazon, VP
Dave SchappellTeachStreet, CEO
Joel SpiegelAmazon, SVP
Randi ZuckerbergFacebook, VP
Status + Need
Status
• 11 MF partners: Mongolia, Peru, Nicaragua, Vietnam, Mexico, ...
• Broad Seattle (AMZN, MS, Unitus) support: http://bit.ly/3MPO0m
• Already raised $230K. Lead angels: Joel Spiegel (AMZN), Mike Murray (MS)
• Quintupled student capacity in Sep ’09 to $25K/mo and growing.
Needs
• Lend. Help us reach more + more students. Katherine: http://bit.ly/4uqa9Z
• Tell your friends. Help us get the word out.
• Venture philanthropy. Asking for $25‐50K angel donors. One word: scale. Help us get there.
• Bloggers, journalists — come find me.