Dubai, UAE – At just 21 years old, Craig Fernandes co-founded Lock&Stock, a platform designed to combat student phone addiction by offering rewards for staying offline. Today, he leads SecureMyScholarship, an ed-tech platform that has disbursed $10.4 million in tuition waivers globally, transforming how students access higher education funding.
Fernandes’ journey began in 2017 during his university days when a simple classroom observation sparked an idea. Noticing that students were constantly distracted by their phones, he envisioned a solution that would reward them for staying focused. By September 2017, just months after returning from Iowa University, he launched Lock&Stock with a simple concept—students could earn virtual currency called “keys” by locking their phones and redeem those for discounts and exclusive offers.
The platform rapidly gained traction. By the end of 2018, Lock&Stock had grown to 80,000 students and partnered with 1,200 brands across Dubai. However, Fernandes soon realized the platform’s potential extended beyond curbing phone addiction.
“We realized there was so much more to explore, beyond just keeping students off their phones,” Fernandes said.
In 2020, Lock&Stock expanded its model, allowing students to exchange their earned keys for tuition waivers at universities worldwide. Within a year, the platform facilitated over $1 million in scholarship funding. Recognizing the growing demand for accessible financial aid, Fernandes and his team launched SecureMyScholarship in October 2021, focusing exclusively on connecting students with guaranteed tuition waivers and partial scholarships.
By 2023, the platform had disbursed $6.3 million in scholarships, prompting the decision to wind down Lock&Stock and concentrate fully on SecureMyScholarship. The transition proved successful—by February 2025, the company had crossed the $10.4 million milestone in scholarship funding.
Building from the Ground Up
Despite coming from a non-business background, Fernandes and his team demonstrated resilience in securing the necessary resources to grow. Their initial funding came from Fernandes’ father, providing just enough capital to launch the project. However, attracting external investment proved challenging.
“It took nearly 100 conversations before we secured our first investor,” Fernandes recalled. “Finding that first one was the hardest, but once we did, we never looked back.”
Today, SecureMyScholarship operates with a team of 20 employees spread across 13 cities worldwide, reflecting its expansive reach and growing impact.
A Student-Centered Approach
What sets SecureMyScholarship apart is its student-first approach. Fernandes emphasized the importance of understanding student needs and building a platform that prioritizes their interests.
“We spent a lot of time thinking about what students want—what makes them happy—and then we built exactly that,” he explained.
This focus on user experience has helped the platform thrive in a competitive market, providing students with tangible financial benefits while ensuring long-term sustainability.
Looking Ahead
As SecureMyScholarship continues to expand, Fernandes remains committed to increasing access to education. With millions already distributed in tuition waivers, he sees no limit to how much further the platform can grow.
“We knew we had something unique that could genuinely help people,” Fernandes said.
From a two-person operation to a global leader in educational funding, Craig Fernandes’ entrepreneurial journey demonstrates the power of a simple idea—when combined with determination, strategic planning, and a student-centered mission—to create a lasting global impact.
