After having already received €800,000 in the form of seed investment from the HenQ fund as well as private individuals, the characteristic "marketplace for languages" - Myngle - has now secured an almost €1 million bank loan from Rabobank.

The loan for the Amsterdam-based online language education service operator is supported by Dutch government, by means of a purported modernization program.

With video-conference type instructions the basis of the complete e-learning platform - with largely automated operations and little involvement of Myngle staff - the use of Skype is preferred by the tutors. Both the teachers as well as the learners practically hook up online to settle on the initiation of an online course.

For all online payment transactions related to the language courses provided in almost 52 languages, Myngle depends on PayPal.

Ever since the Myngle service - quite like LiveMocha, VoxSwap, Babbel and Busuu - was started a couple of years back, it has supposedly drawn about 50,000 members in 125 countries.

The startup company, pitching its language e-learning service, says on its site: "Myngle is free for students and teachers to sign up and provides an online environment for live individual and group lessons for basically any language and level from any type of teacher. You can choose your own teacher or student depending on your specific needs, availability and price!"