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Dutch Online Language Learning Start-Up Myngle Raises €950,000

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Dutch e-learning language start-up Myngle has raised €950,000 (£847,000) in the form of a loan from Rabobank, made possible through the Dutch government’s innovation program. The funding adds to the start-up’s €800,000 (£713,000) seed investment from the HenQ fund and private individuals. Techcrunch reports that the “marketplace for languages,” founded by former employees of eBay (NSDQ: EBAY), which connects teachers and students using their e-learning platform to conduct lessons. The platform uses Skype for video-conferencing and payments can be made via Paypal. Myngle claims to have 50,000 members in 125 countries since its inception in 2007, and boasts providing language courses in 52 languages.

Mar 6, 2009 5:58 AM ET

Posted In: Money, M&A & Venture Capital, Venture Capital, Countries, Europe, Holland, myngle, rabobank

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