ApplyBoard announced the financing deal with RBCx, the technology and innovation arm of Royal Bank of Canada.

“The international education landscape is rapidly evolving as we expect student mobility to double in the coming years, further validating the potential international students unlock for communities, economies and cultures worldwide,” said Meti Basiri, co-founder and chief executive at ApplyBoard.

“With the support from RBCx, we can enable our investment in technology and increase market expansion opportunities to bring more innovative products and offerings to both students and partner institutions.”

The company has a long-standing relationship with the Canadian bank. In 2022, ApplyBoard and RBC launched the ApplyBoard x Guaranteed Investment Certificate Program, which has helped more than 15,000 international students strengthen their study permit applications to support their time studying in Canada.

With the support from RBCx, we can enable our investment in technology and increase market expansion opportunities

Meti Basiri, ApplyBoard

Tony Barkett, head of banking and Capital, RBCx commented: “Powering the growth of innovative companies like ApplyBoard and helping bring bold, socially impactful ideas to market lies at the heart of what we do at RBCx.”

In May, ApplyBoard signed an agreement with another large bank in Canada to assist students from top source countries with finance management.

Through its collaboration with TD, the TD International Student GIC program was created and pertains to demonstrating proof of financial ability, helping provide incoming students with a Guaranteed Investment Certificate, which proves those financials.