Globally acclaimed impact business InvestEd is on a herculean mission: to increase the economic mobility and improve the financial health of low-income and poor Filipino young people and households. And it has received a major boost in this bid from an organization that is equally driven to create social impact.
True to its commitment to make a targeted contribution to economic and social development, the Credit Suisse APAC Foundation has committed a multi-year grant to accelerate InvestEd’s digital transformation and technology roadmap.
“The Credit Suisse APAC Foundation is committed to supporting social entrepreneurs to drive the future success of their organizations, specifically in the areas of financial inclusion and education for young people. We are excited to provide this catalytic funding to InvestEd to help them unlock fast growing access to education finance for young Filipinos,” said Liza Green, Credit Suisse APAC Foundation Executive Director.
The grant is a testament to the global recognition and support that InvestEd continues to gain as it takes the lead in innovating education access for young dreamers.
“We are extremely excited to work with the Credit Suisse APAC Foundation in achieving our shared mission of lifting young Filipinos out of poverty. We will use the funding to expand our product, data and engineering team that will allow us to deliver a high tech, high touch customer experience, automate back-end business processes and strengthen our student success analytics infrastructure,” InvestEd CEO and Co-founder Carmina Bayombong said.
More than the monetary boost, Credit Suisse will also share its expertise with InvestEd, through the engagement of its staff volunteers in what is seen to be a powerful collaboration between the two organizations.
The grant is projected to have exceptional social return on investment. Graduated beneficiaries within the project period will have generated $80 million of income for their households. Moreover, the technology project aims to extend InvestEd’s award-winning coaching program to 150,000 under-resourced students across the Philippines for free.
About InvestEd Philippines
InvestEd envisions a world where every young dreamer has no barriers to success. Its high tech, high touch program provides under-resourced young people with capital for education, life skills coaching, and a supportive community. To date, InvestEd has helped thousands of low-income Filipino young people from over 400 schools increase their income and navigate success in a fast changing world. A landmark invention by the company is its Education to Adulthood (E2A) Risk Engine, a proprietary methodology that de-risks a young person’s life. InvestEd has so far raised funds amounting to more than P125 million.
About Credit Suisse APAC Foundation
The Credit Suisse APAC Foundation, launched in February 2020, is the strategic community investment vehicle for Credit Suisse’s global Corporate Citizenship and Foundations strategy in the Asia Pacific region. It focuses on improving the employability, aspirations and financial education of disadvantaged young people and the financial inclusion of underprivileged populations across APAC (excluding India). The foundation does this by supporting organizations who operate in a sustainable way through multi-year partnerships involving both financial support, capacity building and employee engagement.
Read more about the Foundation here.