The European Bank for Reconstruction and Development (EBRD) is investing US$20 million in Preply, a leading Ukrainian education technology company and a global platform for online language learning. This investment reflects the EBRD’s ongoing commitment to supporting Ukraine’s private sector and nurturing innovation, even as the country continues to face the impact of Russia’s full-scale invasion that began in 2022.
Preply has become one of the most recognised names in online language education. The company connects learners and tutors for more than 90 languages and has grown significantly over the past few years. It now serves millions of students worldwide and offers over 100,000 bookable tutors, making it one of the largest language-learning marketplaces globally.
The fresh investment from the EBRD is part of a broader funding round aimed at helping Preply expand its research and development capacities within Ukraine. A key focus of this expansion will be the development of new AI-driven tools designed to improve personalised learning, making the user experience more effective and engaging.
The EBRD’s decision to provide equity financing is particularly meaningful in the current environment. Ukraine’s private equity market has slowed sharply, with both domestic and international investors showing limited activity due to the ongoing war. By supporting Preply, the Bank is helping maintain Ukraine’s position as a centre for technology talent and innovation. It also contributes to strengthening the country’s financial markets by increasing private equity participation during a period of uncertainty.
Holger Muent, the EBRD’s Director for Telecommunications, Media and Technology, noted that the investment in Preply reinforces Ukraine’s innovation ecosystem, helps create high-value jobs, and enables a successful Ukrainian tech company to compete on a global scale. Preply, in response, stated that the funding will support its efforts to innovate through a combination of human tutoring and advanced artificial intelligence. The company aims to develop cutting-edge technology within Ukraine and provide learning opportunities that help people connect, grow, and succeed no matter where they live.
The EBRD remains Ukraine’s largest institutional investor. Since the start of the Russian invasion in 2022, the Bank has significantly increased its financial support, committing more than €8.5 billion to crucial areas such as energy security, infrastructure, food supply, trade, and private sector development. This latest investment in Preply further demonstrates the EBRD’s long-term commitment to strengthening Ukraine’s economy and supporting its technology-driven future.
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