Funding U (Priced Round)
Funding Details
- Awarder
- WeFunder
- Date Award
- June 13, 2024
- Vertical
- Education Finance
- Funding URL
- View Funding Page
- Premoney Valuation
- $25,000,000
- Valuation
- $25,000,000
- Funding Amount:
- $200,000,000
Company Info
- Founding Year
- 2018
- Traction
- Funding U has grown from $3.6M loans/400 borrowers to $28M loans/2540 borrowers with an 11% decrease in customer acquisition cost. They have $1.3M in trailing revenue and are on track for $3.18M in the current year. The senior team has over 25 years of experience in lending/credit and finance.
- Revenue Amount
- $1,300,000
- ARR
- $3,180,000
- Organizations Involved
- Not provided
- Founders
- Jeannie Tarkenton
- Company Description
- Funding U specializes in providing no-cosigner, merit-based student loans to high-achieving students in need of financial assistance to complete their education. Their mission is to help students reach their educational goals through their core B2C product, 'Funding U No Cosigned Loan,' and their B2C solution, 'Powered by Funding U.' They offer loans based on successful progress towards completing education programs rather than solely relying on FICO scores.
- Market
- Student Loans
- Location
- Atlanta, GA, US
- Coinvestors
- Top 5 largest family offices in U.S.