Over five million companies are posting over 100.000 paid jobs each month on 150 freelance portals. At the same time, world-class education is freely available from various learning portals anytime, anywhere. However, these channels only reach 14M registered freelancers out of a potential population of 200 million young people without jobs or educations in emerging markets. Furthermore, a majority of the 14M registered freelancers from these emerging markets (500.000 in Bangladesh alone) are low-skilled workers earning less than 4 USD/hour, whereas the majority of the jobs being posted are high-skill coding jobs with average salaries of 10–20 USD/hour.

CodersTrust solves this problem by providing a combined online Learn & Earn platform for freelancers, enabling them to upgrade their skills to earn more money on freelance portals.

CodersTrust measures the online reputation of freelancers using a Trust Score by integrating students’ online freelance, learning and social profiles. Students can increase their Trust Scores by completing the available course content on the platform.To begin, students choose to enroll in an introductory, basic or advanced learning path depending on their levels of experience and their skill sets. Students pay a monthly fee to enroll. This subscription includes full access to paid course material, live classes, online support from mentors and daily bidding sessions to get new jobs.

However, if students cannot afford to pay the subscription, they can finance their studies using a loan that they repay using their future freelance earnings. The loan is disbursed using a performance-based model to CodersTrust to cover the cost of the program and to the student’s Payoneer card to cover living expenses. Students’ earnings are paid out to their Payoneer accounts, and the loan payments are automatically subtracted from students’ earnings. The target repayment period varies from 6 to 12 months.

The loan capital is provided by private financial institutions and public impact investors, such as Danida, DFID, UNDP, World Bank and the Rockefeller Foundation. Private investors can buy impact bonds on the Danish Bond market issued by Danske OTC.

CodersTrust was founded on a simple premise. We already know we have an online labor market and various online learning portals. However, we do not have a financial system that funds education for tomorrow’s online labor force. The return on investment on education captured from the online labor market might be powerful enough to make education not only free but also universal and financially incentivized at the point of delivery as an investment opportunity for the capital market.

Today’s digital revolution promises to bring paid education via the internet to fight against a world of discontent, unemployment, low productivity and inequalities. We believe that by building this inclusive financial system for bright students around the world, we can have a powerful impact on the poorest people in the world.

Following a successful program in Bangladesh, which includes +450 enrolled students, an experienced team of +50 dedicated colleagues, and the backing of leading venture and impact capital firms, we are now in a position to dream bigger than ever before. We continue to envision creating a simple online financial service that enables young people around the world to obtain an education, making them an essential part of the online labor market. We see the online market as the promised land, where people are rewarded for their hard work regardless of location, gender or social background. Furthermore, we truly believe our service can bring the power of the internet to the underprivileged, disconnected people of the world.