Unicaf, a Larnaca, Cyprus-based online higher education platform in Africa, raised $28m in Series B financing.
The round was led by Goldman Sachs with participation from existing investors, including the UK Government’s development finance institution CDC Group, University Ventures, and Edex, the founder of the University of Nicosia.
The company intends to use the funds to grow enrolment to over 100,000 students, expand the program offering and open as many as five additional African campuses in the next five years.
Founded in 2012 by Dr. Nicos Nicolaou, CEO, Unicaf is an online higher education platform dedicated to offering affordable, quality university degree programs using flexible delivery modes, to underserved markets, in collaboration with reputable universities in the UK, US, Europe and Africa.
The company leverages a mobile-friendly platform and blends online instruction with on-the-ground instructional centres and virtual coaching.
More than 16,000 students are currently enrolled through Unicaf in academic programs that lead to accredited undergraduate and postgraduate degrees awarded from UK, US, European and African universities.