GrowPro, a leading platform for international educational experiences, has closed a €1.5 million round led by Kfund.
The investment is focused mainly on technological innovation by the platform, which has been a clear differentiating element from its competitors.
Furthermore, part of the resources will also be allocated to marketing and talent attraction.
According to Goiko Llobet, CEO of GrowPro Experience, this round is a key milestone because it allows them to redouble their commitment to digital products and grow to be the reference platform for medium and long-term study and work experiences.
“We want every young person considering a life change to think of us. In April 2022, after surviving the pandemic, we experienced a critical moment. After several structural changes, we managed to grow at a rate of 10% per month and reach positive EBITDA. This, together with the overall change we have seen in VC investment theses, has brought the company in a very good position.”, added Llobet.
Marc Clemente from Kfund believes that Growpro is attacking an opportunity that fits perfectly with the fund’s thesis.
“We believe in a future where getting the opportunity to live in another country will be much more common. An experience abroad changes your life both personally and professionally. Knowing English is already a necessary requirement when applying for a job, but seeing the world and being brave enough to pack your stuff and leave is a great differentiator.”, says Clemente.
An ambitious expansion
The Valencian startup, which generated more than €20 million in revenues last year, operates in countries such as Spain, Argentina, Chile, Colombia, Mexico, Canada, the US, New Zealand, Australia, Malta, and Ireland.
The company has mobilized over 5,000 students worldwide in 2022, marking a growth of almost 110% compared to 2021. The company’s forecast for 2023 is to triple the results.
This investment by Kfund is part of the company’s expansion strategy.
The next step is to open an office in Brazil, in addition to strengthening some of the offices inaugurated in 2022, such as Manitoba (Canada) or Perth (Australia).
GrowPro also has a successful B2B area, which provides agencies in Latin America and Spain with the possibility to connect to its budgeting platform and take advantage of its technological innovation.
During 2022, the B2B area grew an average of 15%, with projections for 2023 to end the year supporting more than 50 agencies.