Unicaf, a Larnaca, Cyprus-based online platform offering higher education to underserved markets, secured $12m in funding.
Backers included CDC Group, University Ventures and Savannah Fund.
The company intends to use the funds to roll-out its education learning centres across African cities, including complating the establishment of a university campus in Malawi.
Founded in 2012, Unicaf partners with western universities and offers its own locally accredited degrees to African young professionals who are looking to study largely online while continuing to work.
The company has grown to over 8,000 students today, and is on track to reach over 60,000 students by the end of 2020.