The son of former Prime Minister Tony Blair is worth almost $100m (£73.4m) after winning fresh investment for an education technology start-up which promotes an alternative to the university system once championed by his father.

Euan Blair's apprenticeship company Multiverse has netted $44m in new funding and plans to open a New York office later this month as it seeks to break into America.

The investment values Multiverse at $200m - giving Euan's 46pc stake a paper value of $92m.

It means the 37-year-old may now be wealthier than his father. Tony Blair has never revealed the details of his finances but Telegraph analysis in 2015 suggested that he had a £60m fortune.

As Prime Minister, Tony Blair oversaw a massive expansion in the number of students and set a target for 50pc of young people to attend university.

But Euan said that the model of graduates earning a degree before going on to corporate training is “fundamentally broken”.

The current system “too often fails to give people the skills they need and does not spread opportunity fairly across society,” he said.

Euan added: “We’re building an outstanding alternative to both the university system, and to a corporate training model that rarely delivers long-term impact and genuine results.”

Potential apprentices use Multiverse, previously known as Whitehat, to create digital CVs including videos of themselves and are then matched with job opportunities. The site also offers training and virtual networking events to help them make connections and learn skills.

The business plans to hire 200 more employees across the UK in 2021.

The new investment round was led by American venture capital firm General Catalyst, which previously backed Snapchat and Deliveroo. Other backers included Google’s venture capital arm GV as well as existing backers Index Ventures and Lightspeed Venture Partners.

Multiversepreviously raised money from Village Global, an investment fund backed by Amazon founder Jeff Bezos, Bill Gates and Michael Bloomberg.

Euan hopes that Multiverse's focus on apprenticeships could help people from diverse backgrounds enter the world of technology.

In November, he said that about 40pc of the company's apprentices are from the areas of highest economic deprivation, while 54pc come from minority ethnic backgrounds and 57pc are women.