Online Higher-Ed Provider, UNICAF Raises $28M to Expand Footprint Across Africa

UNICAF, an online higher education provider based in Larnaca, Cyprus and largely serving students in African countries, has raised $28 million in a Series B financing round led by Goldman Sachs. Existing investors including University Ventures, EDEX and CDC Group, the UK Government’s development finance institution, also participated in the round.

Founded in 2012, UNICAF offers more than 70 online undergraduate and postgraduate programs in fields such as public health and business. The school uses online instruction and virtual tutoring. Students who complete their program earn degrees from accredited partner institutions in Europe including the University of South Wales, the company’s website states.

The latest funding round will go towards helping the education company grow its platform and reach more students, according to a press release.