Icelandic Business School

What Icelandic Business School does

Verzlunarskóli Íslands (Icelandic Business School) is the oldest private upper secondary school (framhaldsskóli) in Iceland, founded in autumn 1905 in Reykjavík by Verzlunarmannafélag Reykjavíkur and Kaupmannafélag Reykjavíkur to expand access to commercial education. The school delivers a portfolio of 3-year stúdentspróf (matriculation) programs across five main tracks — Félagsvísinda- og alþjóðabraut (Social Sciences and International), Náttúrufræðibraut in two lines (Physics and Biology), Nýsköpunar- og listabraut (Innovation and Arts), and Viðskiptabraut (Business) in three lines (Economics, Digital Business, and Business) — each running to 205 units. Alongside the matriculation tracks it operates Fagnám verslunar og þjónustu, a 90-unit vocational program for working retail and service staff with raunfærnímat (prior-learning assessment) in partnership with Mími, and a parallel Fjarnám distance-learning delivery mode supported by its own Moodle LMS, dedicated kennslustjóri fjarnáms, and distributed fjarnámspróf exam centers.

The school's technology stack centers on the Icelandic national INNA student information system (r.inna.is) for attendance, grades, exam registration, and illness/leave reporting; a hosted Moodle LMS (moodle.verslo.is) for on-site and remote course delivery; Microsoft Office365 for productivity, email, and student-services appointment booking; Adobe Photoshop and InDesign for design and innovation track courses; and the Gopro library system for catalogue management. Auxiliary integrations include Google Analytics, self-hosted Matomo, ReadSpeaker text-to-speech in Icelandic, CookieHub consent management, Klett-Sprachen/BlinkLearning digital textbooks for German (Þýska), vefbok.is/rafbokin.is for Icelandic e-textbooks, and typing.com for the Vélr1FI01 course. The institution maintains the verslo.is website plus an English landing page, Instagram (@verzlunarskolinn), and a Facebook page operated by Foreldrafélag VÍ (the parents' association).

Revenue derives primarily from public/state funding for upper secondary education under the Icelandic Ministry of Education, supplemented by Fagnám tuition of 400,000 ISK per vocational student, fjarnámsgjöld distance-learning tuition, ancillary service fees (cafeteria meals at 1,300 ISK each, meal cards at 12,000/22,000 ISK, locker rental at 3,000 ISK/year, exam retakes at 15,000 ISK written or 3,000 ISK sports, additional printing at 20 ISK/page beyond a 150-page semester quota), and international project grants from Rannís, Erasmus+, and Nordplus. The institution is governed by a 9-member Fulltrúaráð appointed by Samtök atvinnulífsins (SA) and Viðskiptaráð Íslands, which in turn appoints a 5-member Skólanefnd that hires the principal. It is a non-profit educational entity with no parent company, no public listing, and no disclosed cap-table; revenue is not publicly disclosed.

Name

Icelandic Business School

Legal name

Verzlunarskóli Íslands

Website

https://verslo.is

Company type

Private

Founded year

1905

Operating status

Operating

Short description

Verzlunarskóli Íslands (Icelandic Business School) is Iceland's oldest private upper secondary school, founded 1905 in Reykjavík, offering 3-year stúdentspróf across five academic tracks, a 90-unit Fagnám vocational program, and Fjarnám distance learning to several hundred new students annually.

Ownership category

akta.pro rank

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Public/state funding for upper secondary education: As an Icelandic framhaldsskóli, the school is overseen by a fulltrúaráð appointed by Samtök atvinnulífsins (SA) and Viðskiptaráð Íslands, and operates as part of the publicly funded upper secondary education system under the Ministry of Education. Core teaching for stúdentspróf tracks is publicly funded.
2. Fagnám verslunar og þjónustu tuition: Tuition fee of 400,000 ISK for the 90-eining vocational program in trade and services for working adults; runs over three semesters with possible extension.
3. Distance learning (fjarnám) tuition fees: Fjarnámsgjold (distance learning tuition) is charged to distance students; specific pricing details listed on a dedicated page (Námsgjöld).
4. Endurtektarpróf (retake exam) fees: 15,000 ISK per written course retake exam; 3,000 ISK for sports retake; payment is a prerequisite for grade publication.
5. Cafeteria (Matbúð) and ancillary services: School cafeteria (Matbúð) sells individual meals at 1,300 ISK, plus meal cards (10 meals for 12,000 ISK; 20 meals for 22,000 ISK). Also revenue from locker rental (3,000 ISK/year), elevator key deposit (5,000 ISK refundable), and additional print quota (20 ISK/page).
6. International project grants: Funding received via Rannís, Erasmus+, and Nordplus for international cooperation projects managed by the verkefnastjóri erlendra samskiptaverkefna.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Icelandic Business School (Verzlunarskóli Íslands) is a private upper secondary school (framhaldsskóli) offering a portfolio of 3-year matriculation tracks across social sciences, natural sciences, business, and innovation/arts, alongside a 90-unit vocational program (Fagnám verslunar og þjónustu) for working retail staff and a parallel distance learning (fjarnám) delivery mode. The school also bundles wraparound services including student counselling, library, IT services, international cooperation (Erasmus+, Nordplus), and cafeteria.

Product overview

Verzlunarskóli Íslands (Icelandic Business School) is an upper-secondary school (framhaldsskóli) offering a portfolio of educational programs rather than a single software product. Its offering is structured as a track-plus-modular architecture: a set of 3-year matriculation tracks (Félagsvísinda- og alþjóðabraut, Náttúrufræðibraut – eðlisfræðilína and – líffræðilína, Nýsköpunar- og listabraut, and Viðskiptabraut in hagfræðilína, stafræn viðskiptalína, and viðskiptalína variants) constitute the core academic offering, each delivering 205 units and culminating in a stúdentspróf. These sit alongside a vocational program (Fagnám verslunar og þjónustu, 90 units) and a flexible Fjarnám (Distance Learning) delivery mode that uses the Moodle LMS. Supporting services - Nemendaþjónusta (student services with counsellors and psychologist), Bókasafn VÍ (school library), Tölvuþjónusta (IT services including MFA, web printing across 7 printers, and password management), Alþjóðasamstarf (international cooperation including Erasmus+), and Matbúð (cafeteria) - wrap the academic tracks. All operate against the school's administrative backbone of Microsoft Office365 and the Icelandic national INNA information system.

Differentiator

Problem solved

Functional benefit

Brands

• NFVÍ (Nemendafélag Verzlunarskóla Íslands): Student association of Verzlunarskóli Íslands, run by students with a board of ten members, organizing song competitions, plays, dances, and publishing.
• Foreldrafélag VÍ / Foreldraráð VÍ

Products and services

• Félagsvísinda- og alþjóðabraut (Social Sciences and International Track) A 3-year upper-secondary program (205 units) leading to a stúdentspróf (matriculation). Emphasis on social sciences, history, international studies, languages and related disciplines. Students may take a third language (Spanish, German, or French) and choose a verslunarpróf at the 2nd level.
• Náttúrufræðibraut – eðlisfræðilína (Natural Science Track – Physics Line) A 3-year program (205 units) leading to matriculation, emphasising mathematics, physics, astronomy and other sciences. Prepares students for university study in engineering, natural sciences, and health sciences.
• Náttúrufræðibraut – líffræðilína (Natural Science Track – Biology Line) A 3-year program (205 units) leading to matriculation, with emphasis on biology, chemistry, and geology. Includes laboratory work in well-equipped school labs.
• Nýsköpunar- og listabraut (Innovation and Arts Track) A 3-year program (205 units) combining core academic subjects with arts, design, and innovation disciplines such as digital design, visual arts, creative writing, and theatre. Students may obtain credit for prior arts/music study.
• Viðskiptabraut – hagfræðilína (Business Track – Economics Line) A 3-year program (205 units) with emphasis on business subjects (bookkeeping, economics, finance, law, entrepreneurship), with the economics line focusing on macro/micro economics and mathematics.
• Viðskiptabraut – stafræn viðskiptalína (Business Track – Digital Business Line) A 3-year business program (205 units) emphasising digital media, data analysis, and workplace learning, preparing students for digitally-oriented business careers.
• Viðskiptabraut – viðskiptalína (Business Track – Business Line) A 3-year business program (205 units) emphasising marketing, management and English language skills.
• Fagnám verslunar og þjónustu (Vocational Program in Retail and Services) A 90-unit vocational program blending distance learning with workplace learning, leading to a fagpróf (trade certificate) for working retail staff. Includes raunfærnimat (prior-learning assessment) in partnership with Mími. Cost: 400,000 ISK.
• Fjarnám (Distance Learning) Distance-learning offering providing flexible study via the Moodle learning management system. Includes courses, retake exams, and prior-learning assessment, with separate fjarnámspróf exam centres.

Quantifiable outcome

• 794 applications received for the 2026 school year (545 with Verzlunarskóli as primary choice)
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

Feature6 records

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat4 records

Key highlights1 record

Customer concentration

• Facebookfacebook.com/foreldrafelagverzlo
• Instagraminstagram.com/verzlunarskolinn
• LinkedInlinkedin.com/company/commercial-college-of-iceland

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Icelandic Business School