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Exclusive: Trade school payments startup Mia Share raises $6.5M

Feb 12, 2024
Illustration of a computer with a chalkboard screen featuring dollar signs

Illustration: Sarah Grillo/Axios

Mia Share, which provides payments and collections services to trade and technical schools, raised $6.5 million in new funding, the company tells Axios exclusively.

Why it matters: While undergraduate enrollment at four-year colleges and universities has declined in recent years, trade and technical schools have seen the opposite trend.

Details: The seed round was led by TTV Capital and included participation from CreativeCo Capital, Nine Four Ventures, Innovating Capital, and WYVC Fund.

Context: Mia Share enables multiple payment options for trade and technical schools, including invoices, payment plans and deferred tuition.

  • Its platform supports loan applications and underwriting on the front end, then afterward helps service loans and accept payments from students.
  • The platform gives schools advanced insights on performance metrics like applications, enrollment, attrition, and accounts receivable.
  • For students, it provides a portal to keep track of application status, payment history, payment plans, and upcoming payments.

Details: Mia Share's revenue comes from a setup fee and a SaaS fee it charges schools for using its platform, as well as transaction processing fees.

The big picture: The gap between demand and available supply of skilled trade workers continues to widen.

  • According to research from the National Student Clearinghouse in 2022, two-year skilled trade programs saw growth in construction (+19.3%), precision and production (+16.7%), mechanic and repair (+11.5%), and culinary (+12.7%) areas of study.
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