SI2 Fund is proud to announce its investment in We Are Digital, a UK-based company that works to tackle digital and financial exclusion by upskilling poor and vulnerable people with limited technological skills. The investment serves to scale its operations and impact in the UK and beyond.
In Europe, 44% of people aged between 16 and 74 years lack basic digital skills. In the UK no less than 12,6 million people do not have essential digital knowledge, the highest proportion of whom are the poorest and most vulnerable. We are Digital helps bridge the divide through high-quality digital and financial group courses, workshops and home trainings, offered by a wide network of outreach tutors and delivery partners. The company works closely together with government departments, corporates, banks and housing associations, that buy the trainings on behalf of their costumers and beneficiaries. These actors are all undergoing a huge shift towards the digitization of processes and applications and want to help vulnerable people access fundamental services.
Matthew Adam, founder and CEO of We Are Digital, is thrilled with the progress of the company and the results of the financing round: “We are currently growing at 100% a year and the number of contracts keeps increasing. I’m proud to now have some of the best social impact investors on board to help our social business scale further in the upcoming years.”
“We Are Digital fits perfectly into the SI2 Fund portfolio as it set up a very innovative business model to address the societal issue of digital and financial exclusion,” states SI2 Fund manager Pieter Oostlander. “We are excited to join forces with other impact investors, each offering a specific expertise and added value, and help the company expand its impact in the UK and beyond.”