Feenix believes that access to education should not be dependent on wealth and exists to positively impact the lives of young people by sourcing collaborative solutions to addressing the key issues that restrict access to higher education. Through the use of online digital technology through crowdfunding, student and funder communities are connected in a transparent and accountable way that transcends geographic and socioeconomic barriers.

ACCESS TO EDUCATION IS LIMITED
As a response to #FeesMustFall, Feenix was developed in 2017 as a bespoke student-focused crowdfunding platform, connecting indebted university students to communities of potential funders.

94% of South African households cannot afford the cost of higher education and youth unemployment in South African is one of the highest in the world.

Feenix’s vision is aligned with the fourth Sustainable Development Goal (SDG4): Inclusive & equitable quality education. By 2030, to ensure equal access for all women and men to affordable and quality technical, vocational and tertiary education, including university - measured by participation numbers, by sex.

Feenix is committed to the sustainability of its platform through investing in and measuring student success that will attract diverse partners and funders to amplify the impact of the higher education funding sector.

WHY THE PERSISTENT NEED FOR FUNDING?
- 90% of students that are fundraising through Feenix are from households with an income of below R300k per year. Most do not qualify for study loans.
- 88% of students fundraising through Feenix in 2020 did not qualify for NSFAS funding.
- 56% of students had been unsuccessful in applying to bursaries or scholarships.

WHY CROWDFUNDING?
Financially excluded yet determined students are the custodians of their fundraising journey. They have the agency to tell their own stories and celebrate every donation.

Feenix has built powerful and innovative technology to ensure:
- Smart student profiles that can be professionally shared.
- Fair disbursement of general funds through smart algorithms, favoring “actively involved” students.
- Fast and reliable data segmentation for funders with specific beneficiary requirements.
- Smart allocation of funds received on student profiles.
- Transparent and traceable disbursement of funds directly to universities.

SOCIO-ECONOMIC IMPLICATIONS
Students who are financially excluded are most likely to experience other socio-economic pressures and exclusions which is why it is vital for Feenix to monitor its students’ academic progress and other factors influencing their success alongside funding requirements - we call these “thrive drivers”.

The following Feenix features have been measured to have the most significant positive impact on student thrive drivers and their ability to succeed:
- Creating a crowdfunding profile and be discoverable to potential funders.
- Receiving donations (any amount) reduces stress to become more focused on studying.
- Emotional support from the Feenix support team and fundraising tips.
- Access to financial literacy (pilot complete 2020, rollout in 2021).