This company pays for your studies (but then it will keep part of your salary)

Why are there millions of people without jobs and, at the same time, sectors that are not able to fill their job offers?

It is the question that entrepreneurs Bosco González del Valle, 29 years old, and Javier Ausín, 28 years old, asked themselves in 2022.

Their conclusion was obvious: many unemployed do not have the specialized knowledge that the market is looking for.

To try to solve it, they devised a company that would finance specialized training and, then, the students would repay their debt in installments when they found work.

They made it a reality in the

Bcas, which in just over a year has lent five million euros to more than 1,400 students.

The current success of these young people from Madrid, who were later joined by Manuel Avello, has not been a bed of roses.

They started the company in September 2021 with a different idea, focused on providing scholarships from the Ministry of Education to students who had them recognized and who returned them when they received them from the Administration - which was usually after the course had started - along with a small percentage added.

“It worked, but we had a problem with late payments and it wasn't very scalable either,” says González del Valle.

It did help them learn and also detect the need there was, especially in the technology sector, for specialized personnel.

In June 2022 they changed course and opted for what is now their business model.

Operational

The system is simple.

Bcas takes care of the cost of the student's training and pays the amount of the course or master's degree that the student has chosen.

He goes to class and then has to return the money.

Of course, he only begins to reintegrate it the moment he enters the labor market.

He does it in installments of 14% of his salary, as long as it is above 16,000 euros per year.

If he loses his position, he stops paying until he finds another one.

And the percentage does not change even if time passes.

“There are no late payment interests or other types of issues.

The amount is fixed and it only takes more or less time to pay it depending on what you charge,” says González del Valle.

The reimbursement is higher than the original cost of the studies, a difference that becomes profits for the company, which has had the support of Lanzadera for a year and has a staff of 23 people.

The entrepreneur explains that this financing seeks to “democratize education,” but he also admits that they do not invest in all the people who request it.

Interested parties must go through an analysis process based on several issues, from financial to training aspects, as well as their work experience.

The start-up offers financing for nearly 200 courses at 60 centers - Ironhack, The Bridge, The Power Business School, 4Geeks Academy and the Complutense University of Madrid stand out, although they also soon want to reach FP.

Most of the courses are related to the technology sector in areas such as cybersecurity, programming, artificial intelligence or data.

The average duration is usually between six months and a year and its cost is around 6,000 euros.

In 2025 they hope to become profitable and until that happens they have requested financing from the European Investment Fund, with which they want to make the leap to other countries on the continent.

What they have been able to lend so far comes mostly from a financing round that injected them with 7.7 million euros.

It was last spring, when they also had the investment arm of Wayra.

In fact, the Bcas offices are located in the Telefónica accelerator facilities.

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