Spark Schools has raised funding in new round for its next phase of growth and expansion of primary and secondary schools across Africa and realise its vision to reach over 35,000 children in the next 10 years. The funding round was led by Creadev with other investors being Finnfund (the Finnish development finance institution) and Imaginable Futures (an existing shareholder of the Spark Schools). The amount invested or the stake acquired was not disclosed.
Spark Schools was established in 2012 by Stacey Brewer (founder and CEO) and her team, to provide primary and secondary education in a teacher-led instruction and online learning with a strong emphasis on educators’ professional development. The schools provide a good education at a competitive price and have become the 3rd largest network of private schools in South Africa serving over 10,500 families.
Creadev is an investment company operating worldwide to support companies that are able to scale-up and become global players in their sector. Creadev is backed by the Mulliez family which is an autonomous federation of over 200 companies that employ about 600,000 people in more than 35 countries. Leading businesses include Auchan Retail, Decathlon, ADEO, Leroy Merlin, Boulanger and Flunch among others.