Acquisition aims to drive financial wellbeing for young people
Blackbullion has today announced its acquisition of The Scholarship Hub, the UK’s leading scholarships and bursaries search tool. This is the fintech’s first acquisition and underpins its position as the leader in financial wellbeing for young people.
The acquisition will add another layer of value to Blackbullion’s Financial Wellbeing Platform while supporting Blackbullion’s longer-term strategy to expand the pool of money available to UK students throughout their education to promote financial inclusion.
“Blackbullion has become the trusted financial space for students and bringing the Scholarship Hub into our universe is a natural step” said Vivi Friedgut, Founder of Blackbullion. “We’ve always been fans of The Scholarship Hub’s approach and ethos and we’re very excited about the role it will play in maximising impact in service of our mission to reimagine students’ relationship with their finances.”
The Scholarship Hub is accessed by over 600,000 young people each year and will continue to be available to all.
It will also be integrated into Blackbullion Futures, launched in March in partnership with the Bank of England and Pearson, an online pilot programme giving 16–19-year-olds the skills, knowledge and confidence to make the right decision for their financial futures. With 75% of students saying they worry about money and 57% reporting a negative impact on their mental health, closing the gap on access to additional funding is a priority.
The Scholarship Hub was founded by Karen Kennard in 2013 to help students search and apply for the right scholarship, grant or bursary to support their higher education – in some cases, these sources of funding are the only reason they’re able to continue, or even begin, their education.
Vivi Friedgut comments, “We’re focused on empowering young people to shift the trajectory of their own financial futures. By knowing what financial support is out there, having the tools to navigate and access this, then using it in the best possible way, along with the right financial education – it’s a powerful combination.”
Karen Kennard adds, “We know that in the last couple of years, finances have played havoc on students’ university experiences and learning, as well as confidence about their financial futures. Blackbullion shares my commitment to empowering young people through financial wellbeing and widening participation, by making it easier for students to access the tens of millions of pounds in scholarships and bursaries. This integration truly furthers my vision for the business, and I know it couldn’t be in better, more capable hands, as we aim to open up funding for young people.”
Blackbullion is the financial wellbeing platform equipping young people with money skills for life and improving access to funding. Our platform can be accessed for free by over 1 million students at partner universities and colleges and is deeply embedded into student support departments to help with funds distribution and provide financial education, giving students the skills and confidence to create a money-smart future.