- Loan Successfully Funded On 8 Feb 2024 and in Repayment
Expanding digital education for Cambodian Youth
Glean Asia
- Phnom Penh, Cambodia
Menu
- 60,900 USD
Loan in repayment
Loan in repayment
Glean Asia, a ‘tech for public good’ venture, recently acquired an EdTech platform from Plus Education, serving over 3,000 students across 33 Cambodian schools. The platform focuses on improving English and tech skills, particularly for girls in rural areas. This second impact loan for Glean Asia, following a successful first, aims to stabilize cash flow, expand to more schools, update content, and enhance operations, furthering its mission to advance education technology in Cambodia.
- 9 Lenders
Committed
- 12 months
Loan Period
- 10%
Interest Rate
- BACKGROUND
Loan summary
Glean Asia, a ‘tech for public good’ impact venture, specialises in delivering educational technology (EdTech) projects for major international aid agencies. Known for its strong positioning in the Cambodian market, Glean Asia has recently seen an influx of impact contracts, necessitating significant upfront investment to expand the team and service these new opportunities.
Glean Asia has enhanced its offerings in 2023 by acquiring an EdTech platform from Plus Education, currently implemented in 33 Cambodian schools. This initiative engages local communities, which contribute a small fee to cover program costs. The acquisition aims to stabilise Glean Asia’s cash flows from the EdTech platform, allowing for expansion to additional schools, content updates, and the purchase of a vehicle to support field visits and sales/support activities. This loan will provide the necessary capital to catalyse these growth efforts, ensuring Glean Asia continues to deliver impactful educational solutions across Cambodia.
Borrower's mission
Glean Asia has been a leading innovator in the ‘tech for good’ sector since 2010, known for the quality and local relevance of their work. Their design approach ensures products are usable and appropriate for users, particularly rural Cambodians with low digital literacy and connectivity.
They utilise a unique skill set in data, human-centred design, and capacity building, driven by a young team of Cambodian tech specialists, to deliver impactful solutions.
Their EdTech for Good program, implemented in 33 schools and reaching over 3,000 students, focuses on enhancing English education and technological capacity for rural students in Cambodia, addressing educational and technical access gaps. Especially committed to gender equity, Glean Asia aims to close the technology gap by providing girls with access to resources typically beyond their reach.
Beyond education, Glean Asia’s initiatives span various sectors. From educating factory workers about reproductive health to leveraging innovation for sustainable industrialization, they continuously adapt to evolving market needs. For instance, the low-cost digital service ‘Invoice Mouy’ addresses the financial marketplace for small organisations, facilitating tax-compliant invoices for formal B2B transactions.
Committed to responsible consumption and production, Glean Asia develops digital innovations in supply chain management and tracks the environmental impact of consumption patterns. Their work in open government data and community support reflects a core drive to improve society and governance transparency.
Glean Asia’s technological reach, particularly through their EdTech for Good program, aims to bring more peace and equitable growth to Southeast Asia, reflecting their long-term impact and commercial ambitions.
The activities funded by this loan are helping to achieve the above Sustainable Development Goals as defined by the UN.
Intermediary's experience with impact enterprises
For more than 8 years, Red Hat Impact has helped impact enterprises by raising capital and providing other kinds of business and strategy support. We have raised more than $3M from our network of impact investors, and loaned this capital to support 30 enterprises. We use a crowd-lending model to raise loan capital. As of May 2024, we maintain a 98% success rate on loan repayment. We establish close working relationships with all of the impact enterprises we raise debt capital for, and co-manage risks with them during the loan term.
- IMPACT
Impacts and how they are measured
The loan will support the following outputs/outcomes – by providing capital to help expand their products and increase schools as customers, Glean aim to increase the: These will be measured via the online enrolments and usage of the Plus Education platform.
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