Our Team

Board of Directors

Alberto Beeck
Chairman - Lumni INC

Alberto is an investor and entrepreneur with interests in the mining, hotels, wealth management, and tech sectors, as well as on social impact activities in the education sector. Managing Partner of VH Properties and Director of Virgin Hotels. He also serves on the boards of WE Family Offices Holdings, Endeavor Miami, and Videoo. He is a member of the Group of Fifty and of ASN (Ashoka Support Network). Founder and Chairman of Georgetown University’s Beeck Center for Social Impact and Innovation, and member of its Global Board.

Daniel Echavarría
Chairman - Lumni USA

Managing Partner, Ganolian Investments Co.,  Board member of Organización Corona, Fundación Corona and co-chair of Endeavor Miami. Daniel obtained a Masters in Finance from London Business School and a BS in Business Administration from the University of Colorado.

Felipe Vergara
Co-Founder and CEO

Before Lumni, Felipe founded 4 other companies in the field of education. He is an Ashoka Fellow and Endeavor entrepreneur. An Engineer from Universidad de los Andes (Colombia) that holds an MBA from Wharton School.

Miguel Palacios
Co-Founder and Head of R&D

Head of Research & Co-Founder.  Assistant Professor of Finance at the University of Calgary’s Haskayne School of Business. Finance Ph.D., University of California, Berkeley. MBA, Darden.

Oswaldo Sandoval
Chairman - Lumni Perú

Chairman of Sandoval Group, Chairman of Aeropuertos del Perú, Chairman of Inmobiliaria Koricancha, Chairman of Endeavor Peru. Former Congressman from 1993 until 2000. BS in Economics from Universidad Catolica del Peru. Postgraduate management studies at Universidad de Piura, and the Advanced Management Program at Harvard University.

Global Team

Felipe Vergara
Co-Founder and CEO

Felipe received his MBA from Wharton before joining McKinsey & Company as a consultant in their New York office. He was recognized as an Ashoka Global Fellow in 2006, an Endeavor Entrepreneur in 2009, and named one of America’s 25 Most Promising Social Entrepreneurs by Business Week in 2009.

Miguel Palacios
Co-Founder and Head of R&D
Miguel is Assistant Professor of Finance at the University of Calgary’s Haskayne School of Business. He received a PhD from the Haas School of Business at the University of California at Berkeley and was a Batten Fellow at the University of Virginia’s Darden School of Business. Miguel has authored numerous works on the subject of financing human capital.
Jorge Alvarez
Chief Technology Officer (CTO)

Jorge is a Systems Engineer specialized in  Project Management from Politecnico Grancolombiano. He is certified in ITIL Foundation V3, holds 15 years of experience in information technology, information security, communications, networks and software implementation. Before joining Lumni, he was the IT Specialist for Latinamerica at Fiserv.

Milena Moreno
Director of Finance and Administration

Milena Moreno has a specialization in corporate finance(CESA) and accountant of Universidad de la Salle. Holds more than 10 years of experience in finance, planning, audit and consolidation of financial statements. Before joining Lumni(2015 Q4), she worked for Sima Inc, Quala Inc & Quala SA.

Luis Bryce
Global Head of Business Development

Luis brings to the team a broad background in finance, with a strong track record in investment advice to private and institutional clients, academic research, university education, and public service, developed throughout his 10 years of experience. Growing up in South America, Luis developed a passion for economic development which drives his motivation for impact investment. Before joining Lumni,  Luis served as advisor to the Minister of Economics and Finance of the Republic of Peru. Previously, Luis worked at the bank Credit Suisse in Zurich, and before that at the University of Lausanne. Luis completed his PhD in Finance from the Kellogg School of Management of Northwestern University in 2012 and BS in Physics and Mathematical Economics from the University of Miami in 2007.

Lumni Colombia

Sylvia Ortiz (CEO)

Sylvia is an Industrial Engineer from the Pontificia Universidad Javieriana and holds an MBA from Universidad de la Sabana in Colombia. Before joining Lumni in 2014, she was the General Manager of Progressa, a credit union member of the Saludcoop Group.

Lumni Peru

María Del Rosario Rojas Cárdenas (Operations Director)

Rosario has a law degree from Universidad San Martin de Porres from Peru. Before joining Lumni, she was part of the Teach for Peru program and worked as a school teacher in a vulnerable area of the country.



Lumni Chile

Daniela Ávila (CEO)

Commercial Engineer from Universidad de Valparaiso(Chile) and diploma in HHRR management from Cámara de comercio de Lima(Perú).
Holds 5 years of experience in the banking sector as BBVA account executive, insurance analyst in Coopeuch and corporate solutions analyst in Banco Estado and HHRR manager in Optima Construcción y Servicios S.A.C, Lima(Perú)   

Lumni USA

Brendan Flores (CEO) - Prior to being its acquired by Lumni, Brendan was founder and CEO of Base Capital, an ISA provider in the U.S. Prior that, Brendan was President & COO of Polyera, a flexible-display technology startup with offices in Chicago, San Francisco, and Tapei (acquired to SAES Getters). Prior to that, Brendan worked with the executive team at Rosetta, a marketing start-up (sold to Publicis in 2012). Brendan graduated from Princeton University with a degree in Electrical Engineering with a focus on signal processing and neuroscience.

Lumni USA

Ripal Patel (Operations Director)

Ripal Patel specializes in operations of customer service oriented businesses and has over 8 years of experience managing people. He holds a Masters in Business information System from Australia and a Bachelors of Commerce from India.



Lumni is a pioneer in the field of human capital financing. The company designs and manages investment funds in education.

How it Works

Lumni finances students through Income Share Agreements (ISAs) so they can finish their studies.

Students agree to pay the financing after graduating by paying a fixed amount of their salary for a set period of time.

If you want to learn more about ISAs, see our articles and publications here.

Our Values

  • Perseverance

    always aiming for excellence.

  • Integrity

    and zero tolerance for deceit.

  • Respect

    in the relationships with our team, students and their families, our partners and investors.

  • Responsibility

    to fulfill our commitments.

  • Solidarity and service

    aware that everything we do can make a difference.

Where We Work

Lumni is a pioneering alternative for educational financing in the world. It is currently available and operating in:






Our Partners

Lumni partners with the industry leaders to provide the best possible service:


Lumni in the News

The Colombian "favorite" of the World Economic Forum (in Spanish)

Portafolio Magazine (Colombia), June 2016

Felipe Vergara is interviewed at the WEF venue in Medellin, and explains about Lumni, its funds and the recognition he received in 2011 at the World Economic Forum in Davos.

Firm brings microfinancial aid to US students, by Nanette Asimov.

SF Gate. July 18, 2011.

"An innovative method of helping students pay for college in Latin America has landed in the United States - and 15 California students serve as its willing guinea pigs."

Are 'income share agreements' a good way to pay for college?, by Robert Kechlen

CS Monitor. June 7, 2016

"Under these plans, students agree to pay a percentage of their future income to a private company or lender in exchange for additional money to cover college expenses. For some, the agreements might make sense."

A Way to Pay for College, with Dividends, by David Bornstein.

The New York Times. June 2, 2011. 

"If you were a student looking for financing to pursue a degree in social science, would you accept an offer of $16,000, in exchange for paying 4.5 percent of your income for 10 years after you graduate?"

Instead of Student Loans, Investing in Futures, by David Bornstein.

The New York Times. May 30, 2011. 

"Today, I’d like to look at the question of whether there may be a better way to pay for college than with scholarships, grants and loans. Is it possible to finance higher education the way we finance start-up companies?"

Escaping the student-debt trap, by Kate Bachelder.

The Wall Street Journal. June 13, 2014.

"An economist-entrepreneur inspired by equal parts Milton Friedman and David Bowie says income-share agreements could rescue higher education."

A Guide to Income-Share Agreements, which some see as a better way to finance college, by Beckie Supiano

The Chronicle of Higher Education. April 14, 2015.

Latin America’s big education innovation, by Andres Oppenheimer

The Miami Herald. May 6, 2015.



by Miguel Palacios, Tonio DeSorrento, and Andrew P. Kelly

American Enterprise Institute Series on Reinventing Financial Aid, 2014

“A Better Way to Finance That College Degree", Op. Ed. by Miguel Palacios and Andrew P. Kelly. The Wall Street Journal, April 14, 2014.


Investing in Emerging Markets

The Research Foundation of AIMR, 2003.
Robert Bruner, Robert Conroy, Wei Li, Elizabeth
O’Halloran and Miguel Palacios LLeras.

News & Events

Perú: Lumni in TV Program 'Mundo Empresarial' (in Spanish), July 2015

Former General Manager of Lumni Perú, Juan Pablo Bustamante, is interviewd by Bruno Giuffra about Lumni and Fondo Talento.






CNN in action: The Social Innovation. Gabriela Frias presents Lumni (In Spanish). Feb, 2013.

Transmitting from the World Economic Forum in Davos (2013), Gabriela Frías presented the case of Lumni from three perspectives: from two Chilean students own words, an  excerpt from Felipe's speech  in the event, and a short interview where Felipe and Gabriela comment about the win-win partnership between Lumni and SabMiller in Colombia.

Oppenheimer Presenta: Felipe Vergara Interview (Lumni), 2015

(Video in Spanish) Andrés Oppenheimer interviews Felipe Vergara, as part of his TV program "Oppenheimer Presents", dedicated to The Social Innovators.
(Aired on May 2015)

Lumni Chile in TVN: Revolution for College Financing, April 2014

Television report on Lumni by the central news program of the Chilean National Television channel. It explains what students need to know about Lumni Chile, and its support for hundreds of students to finish their higher education studies.

  • Felipe Vergara was awarded the Social Entrepreneur for Latin America in 2011.

  • Lumni won the UBS Global Venture Lab Competition in 2011.

  • Lumni was invited to participate at CGI 2010. Lumni made a public commitment to finance 10,000 new students.

  • Felipe Vergara was elected one of America's Most Promising Social Entrepreneurs in 2009.

  • In 2007, Lumni was selected as a high potential model for improving access to higher eduction in Latin American countries.

  • Lumni was selected as one of Global Impact Assets 50 in 2011.

  • Felipe Vergara was named an Ashoka Fellow in 2006. As of 2015 he serves in Ashoka's Board of Directors.

  • Lumni was selected an Endeavor company in May 2009.