Google Joins Seattle Angels to Bankroll Vittana

Friday, December 16, 2011

Vittana, the Seattle non-profit that’s facilitating micro-loans to students in developing countries, has received a $250,000 grant from Google.

Others backing the organization include entrepreneurs Hadi and Ali Partovi; former Microsoft VP Mike Murray; Redfin CEO Glenn Kelman; BuddyTV co-founder Andy Liu; Founder’s Co-op’s Chris DeVore; TeachStreet CEO Dave Schappell and others.

Vittana founder Kushal Chakrabarti – a former employee – said that the organization is operating in “hyper-growth mode right now” with hundreds of students getting Vittana loans every month across four continents.

Vittana’s education loans see a repayment rate of 99 percent, with Chakrabarti adding that education finance model is working by tripling one’s earning power.

“We’re honored by Google’s recognition of Vittana’s role in helping fight global poverty through education and technology,” Chakrabarti said. “Google’s innovation and mission make it a natural ally with Vittana: the world’s information is rooted in knowledge and education, and Vittana’s mission is to increase the world’s access to education.”

This marks the second Seattle area non-profit that Google has supported in recent weeks, following agrant that the search giant provided to Startup Weekend

Source: GeekWire (link opens in a new window)