In 2021 COFIDES provided support for the e-learning tech company Netex to further its commercial presence in the United Kingdom with a EUR 2.75 million joint venture loan. Charged to FONPYME funds, the loan was applied to purchase Virtual College, a British company. Netex has invested nearly EUR 6.4 million in this project, with which it rounds out its offer of training services geared to the education sector and businesses.
"The purchase of Virtual College is a significant milestone for the company’s internationalisation strategy and enhancement of our portfolio of online training technology solutions. Since company foundation and listing in 2017, we have benefitted from the support of a number of key partners in our market relationships. One, COFIDES, has committed to and shares our vision and passion for developing solutions that make knowledge accessible on demand”
Carlos Ezquerro, Netex CEO
The firm offers a new learning experience based on training programmes with a number of content formats and platforms that accommodate bespoke learning pathways that include live sessions, interaction with teacher-trainers and a host of ancillary services.
Prior to this second joint project with Netex, COFIDES supported their entry on the U.S. market in 2020.
"This operation enables us to impact investee internationalisation, strengthen the role of SMEs and enhance people’s skills to the benefit of their quality of life, employability and the essential role they play in the creation of a stronger business fabric"
Gloria Santiago, COFIDES Internationalisation Division supervisor
This investment makes a substantial contribution to SDG 4, ‘Quality education’. E-learning has enhanced employability for a considerable number of youths and adults, enabling them to acquire the necessary technical and professional skills to access decent jobs or found businesses of their own.