In 2019, Marco Logiudice and Ethan Fraenkel, recent university graduates, were thrilled to be accepted into their dream postgraduate degrees. However, the excitement quickly turned into a financial challenge when they realized the high upfront costs they needed to cover.
Limited financial assistance options forced them to seek alternative means of funding their education, leading to long hours of work, multiple jobs, and even expensive loans. This experience ignited their determination to find a solution to help young people facing similar difficulties.
Starting a Business from Their Bedrooms
Out of this necessity, Prograd was born – an online platform co-founded by Marco and Ethan, dedicated to empowering young people with financial knowledge and opportunities. The platform scans hundreds of tailored opportunities based on an individual’s goals, skill set, interests, and financial situation. By providing personalised paths to reach these goals, Prograd empowers users to build side hustles, save money, and develop financial literacy, all without any cost.
The journey of Prograd began modestly, with Marco and Ethan working on the platform from their dorm rooms between 2019 and 2020. However, it was during the pandemic that the business gained traction.
With the addition of Rushen, the founding engineer, and an advisory board, the platform gained momentum. In June 2021, Prograd achieved a significant milestone by being accepted into the prestigious Techstars accelerator. This recognition enabled Marco and Ethan to quit their jobs and dedicate themselves fully to the platform. Thanks to this newfound momentum, Prograd secured over $3.5 million in funding, expanded its team to 15 talented individuals, and now supports over 60,000 people monthly.
A Vision for the Future
Looking ahead, Marco envisions a future where Prograd becomes even more personalised for its users. The platform continuously adds new products every month, ensuring that users always have a wide range of options to tackle their financial challenges.
Marco describes Prograd as a financial Google, always ready to provide tailored guidance and assistance to individuals based on their unique circumstances.
Making Financial Literacy More Accessible
Prograd’s ambitions extend beyond the digital realm. Marco and his team are launching a programme to help university students with financial literacy. Additionally, they intend to leverage their data and community to shed light on the impact of the cost of living crisis among vulnerable populations. Ultimately, their goal is to create a future where no one needs to struggle or fall into debt to achieve their dreams.
With Marco and Ethan at the helm, Prograd is poised to revolutionise the way young people manage their finances. By providing accessible resources, personalised guidance, and opportunities for growth, Marco aims to empower individuals to take control of their financial future and build a path to success.
A Future Without Financial Struggles
As Marco puts it, “We just want to continue to build a future where nobody will need to struggle or go into bad debt to achieve their dreams.” With Prograd’s dedication to financial literacy and empowerment, that future may not be too far away. Through their platform, Marco and Ethan are on a mission to ensure that everyone has access to inexpensive financial support, transforming the lives of countless students and young individuals as they pursue their dreams and aspirations.