Prograd, an online platform founded in 2021 by Ethan Fraenkel and Marco Logiudice, aims to help students build a side-hustle, develop financial literacy, and save towards their life goals.
How it all began
The idea for Prograd began in 2019 when Fraenkel and Logiudice, both undergraduates at the time, faced the daunting task of gathering funds to pay for their dream postgraduate degrees. With limited financial support from their families and partial coverage from student loan companies, they were left with a significant financial burden.
After working long hours, taking on multiple jobs, and resorting to expensive loans, Fraenkel and Logiudice realised the challenges faced by young people in accessing personalised and affordable financial support. This realisation sparked the idea to create a platform that would provide guidance for achieving financial life goals, from financing education to purchasing a home.
Personalisation through Prograd
Prograd's platform operates by analysing users' goals, deadlines, skillsets, interests, and financial situations. It then scans hundreds of opportunities to earn money, find jobs, or save money online, curating a personalised path for each user. The best part? This service is completely free.
Since it began, Prograd has come a long way. The founders initially worked on the platform during their university days and continued as a side hustle while juggling their first jobs. However, everything changed when their founding engineer, Rushen, joined the team, followed by an advisory board. The turning point came in June 2021 when Prograd was accepted into the prestigious Techstars accelerator, leading Fraenkel and Logiudice to quit their jobs and fully commit to their startup.
Accelerating forwards
With their dedication and support growing, Prograd has flourished. The startup has secured over $3.5 million in funding and expanded its team to include 15 talented individuals. Most importantly, Prograd now supports more than 60,000 people each month through its platform.
Looking ahead, Prograd has ambitious plans for the future. The team is determined to enhance the platform's personalisation, ensuring users always have access to a wide range of unique solutions. The goal is to build a platform that caters to individual circumstances and provides helpful solutions for various financial challenges.
"We are adding tons of products to our platform each month to ensure that our users will never run out of options and solutions to their problems," says Marco Logiudice, Co-Founder at Prograd. "Our vision is to create a future where nobody needs to struggle or go into debt to achieve their dreams. Think of us as the Google for money."
In addition to expanding their offering, Prograd is set to launch a formal financial literacy programme in universities across the UK. By scaling their research teams, they aim to shed light on the impact of the cost of living crisis, particularly among vulnerable people.
Prograd's mission to revolutionise student recruitment and empower individuals with financial knowledge is gaining momentum. With their innovative approach and commitment to financial literacy, Prograd is destined to make a significant impact on the lives of students and young professionals worldwide.