edly ISA marketplace finances institutional success linked to student success
NEW YORK, Sept. 9, 2019 /PRNewswire/ -- edly, the online marketplace connecting income share agreement (ISA) investors with top schools, today announced that Bottega, a Salt Lake City-based software engineering school, received its first $2 million in funding via the edly marketplace to finance the Bottega ISA program.
"We are proud to support Bottega CEO Eric Wold and all Bottega mentors, students and staff as they prepare for today's workforce - debt-free. Bottega ISAs reflect the school's focus on outcomes and commitment to skills training, job placement and alignment of interests," said edly CEO Chris Ricciardi.
The initial $2 million investment comes from investors on the edly platform. Further terms of the transaction were not disclosed, but the deal is expected to fund more than $20 million in volume by the end of 2020. Bottega previously funded its ISAs from working capital.
"edly's ISA marketplace allows Bottega to maintain our alignment of interests with students while smoothing our cash flows, allowing us to fulfill our mission. We're proud to place students of all backgrounds into tech careers, and the ISA is part of our value-add. Approximately one-third of Bottega students identify as female, double the tech industry's current rate and we're proud our flexible financing increases student access. It's helping us change the game," said Bottega CEO Eric Wold.
Bottega reports an 85% placement rate for full-time students and a median salary of more than $60,000 for 2018 graduates. Bottega has CREDIT recommendation and transcript services through The American Council on Education (ACE) and three major accreditations: The Northwest Accreditation Commission (NWAC), Corporation Systems Accreditation from Advanc-ED, and it has acquired the degree-granting New Charter University (www.new.edu), accredited through the Distance Education Accreditation Commission (DEAC). Pending final DEAC approval and oversight, New Charter University will be re-branded as Bottega University.
edly is a marketplace that enables accredited investors to do well by doing good. Accredited investors buy "shares" of ISAs, unique financial assets tied to future student success. These investments fund student tuition and then are repaid by students only after they begin working in well-paying jobs. Unlike student loan debt, which can be punitive and unaffordable, ISA investments on the edly marketplace reward and fuel ongoing student success. This offering is fully subscribed, though accredited investors can pre-register for future offerings at edly.info.
Bottega is now accepting applications for its Full Stack Web Development, with new online students starting every week in English and Spanish, and onsite classes starting every 6 weeks. Students and parents or guardians who want to learn more about the program are encouraged to visit for additional information, eligibility requirements and a tool comparing ISAs with other financial aid options that may be available to students.
To apply, applicants should fill out an online application, meet with a member of the enrollment team, and then take the Bottega Prep Course.
Bottega's career services for students include resume and interview preparation, online job placement resources, advisor support after graduation, and continued learning. Bottega offers a job guarantee on their full-time programs. If a graduate is not employed within 90-days after the course, there is a 100% tuition refund, including any monies already paid. See enrollment agreement for details.
Bottega is regionally accredited through AdvanceED, and recently acquired New Charter University (new.edu), enabling it to offer a variety of certificates and degrees. Ultimately, Bottega's goal is to put the most valuable technology tools in the hands of individuals in the shortest amount of time.
About edly, Inc.
edly Inc. is the ISA marketplace, connecting accredited ISA investors with ISA issuers such as colleges, skills academies and vocational schools. The company is headquartered in New York.
With one contact point, schools gain access to the entire market of ISA investors through the edly marketplace. And using edly's ISAAC calculator, schools can see how choice of terms relate to the creation of an attractive tuition funding alternative for students. Schools can easily test the funding terms each month, with certainty of funding – now and in the future, in any amount.
edly was recently highlighted as an ISA market visionary by Career Karma. Read their "State of the ISA Market Report-2019" report here
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