College Ave Student Loans Raises $30 Million in Funding to Drive Market Expansion
College Ave closes fourth equity round since its inception in 2014
(WILMINGTON, DE) April 13, 2017
College Ave Student Loans, the leading next-generation student loan marketplace lender, announced today it has secured $30 million in funding. Fourth-round investors include new and existing participants, such as Comcast Ventures and Leading Edge Ventures. This round of funding was oversubscribed, with the initial target of $25 million.
“We are very satisfied with our recent capital raise,” said Joe DePaulo, College Ave Student Loans co-founder, chairman and CEO. “We exceeded our target funding goal this round, which reflects the rapid, smart growth of our company and the value investors see in us.”
The capital raised will fuel College Ave’s growth and enable expansion to meet the education financing needs of new market segments. As the first and only fintech lender to launch with a focus on the in-school student loan market, College Ave delivers personalized funding options through a best-in-class experience to students at more than 2,500 campuses nationwide. The approach is resonating with customers, who give College Ave a 5-star rating.
“College Ave continues to prove their ability to grow their business by putting their customers first, all while navigating the intricacies of the student loan marketplace,” said Dave Zilberman, Managing Director at Comcast Ventures. “We look forward to supporting this talented leadership team and the company’s continued growth.”
Moelis & Company served as financial advisor and Milbank, Tweed, Hadley & McCloy LLP provided legal counsel for the transaction.
About College Ave Student Loans
College Ave Student Loans is simplifying the student loan experience so students can get on with what matters most: preparing for a bright future. As a fintech lending company with a sole focus on private student loans, we’re using technology and our deep industry expertise to connect families who need to cover education costs with lenders who can provide that funding. By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment. Visit: www.collegeavestudentloans.com.