Youthful Savings LTD, an EdTech company dedicated to socioeconomic education has signed an agreement with GEM Global Yield LLC SCS, a private investment group, for a subscription share facility that will allow Youthful Savings LTD to submit for a European public listing.
As a part of the agreement, GEM commits to provide Youthful Savings LTD with a share subscription facility of €20,000,00 for a sixty month term following the public listing of the company shares on a European Stock Exchange. Youthful Savings LTD will control the timing and maximum amount of drawdown under the facility and has no minimum drawdown obligation. Concurrent to the public listing of Youthful Savings LTD's shares, GEM will receive warrants to purchase shares in the company.
With this financing, Youthful Savings plans to expand its technology and reach more youth that are in need of socioeconomic and community development.
Founded in 2013, Youthful Savings is an online learning ecosystem dedicated to socioeconomic empowerment through mental wellbeing, economic empowerment, and community development. The platform provides youth online education through The Learning Marketplace and a platform to create global online businesses via Youthful Savings Marketplace.
Commenting on the latest development, CEO of Youthful Savings, Somya R. Munjal, said, "Youthful Savings was created to impact all youth with the necessary skills needed to thrive in the global economy. Now more than ever, it is important that we equip our youth with the knowledge and resources that will allow them to lead the world with compassion, collaboration and contribution. We are thrilled to have a commitment from the GEM group as we work to bring peace and prosperity to the world through the power of empowered youth."
Through Youthful Savings, youth have the ability to create a more inclusive global economy, learn necessary real world skills like business, investing, bitcoin education, character development, restorative justice and many other skills that are not normally taught in the public school system. The learning ecosystem intends to unite the world through the power of sincere business and youth.
Global Emerging Markets (GEM) manages a diverse set of investment vehicles focused on emerging markets and has completed 500 transactions in 70 countries. The family of funds and investment vehicles provide GEM and its partners with exposure to, Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments.
Managing Partner and CEO of Capital Innovators, Judy Sindecuse, added, "Since investing in Youthful Savings in the early spring of 2020, we have seen the company grow and evolve to meet the ever-changing demands of the world. The company's dedication to its mission of uplifting youth is inspiring. We are excited for this new opportunity to expand Youthful Savings' reach and impact."
Last year, Youthful Savings was named 101 Best NYC EdTech Companies by UK based Beststartup and is a Capital Innovators portfolio company.