# College Avenue Student Loans

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/college-avenue-student-loans

- Industry: Internet
- Headquarters: Wilmington, US
- Website: www.collegeavestudentloans.com
- Total disclosed funding: $30M
- Latest round: Series D (Apr 13, 2017)
- Investors on record: 3

## About

College Avenue Student Loans LLC provides private student loans designed to help students and parents finance higher education, focusing on user-friendly processes and flexible repayment options.College Avenue Student Loans LLC was founded in 2014 and is headquartered in Wilmington, US. The company specializes in providing private student loans and has made five significant investment deals, with the most recent occurring on February 21, 2019. During this round, the firm raised USD 65 mn in VENTURE DEBT funding led by Guggenheim Investment Management. The total amount raised by the company amounts to USD 30 mn. CEO Joseph DePaulo has a history of involvement in the financial services sector, guiding the company's operations since its inception.College Avenue primarily offers private student loans tailored to meet the financial needs of students and parents pursuing higher education. Their core product ranges from undergraduate and graduate student loans to specialized financing options for health professions and MBA programs, providing rates starting at 3.19% APR. The company focuses on simplifying the borrowing process through a user-friendly application, flexible repayment options, and a suite of financial tools designed to aid students in managing their educational expenses. Targeting both students and parents, College Avenue aims to alleviate financial stress associated with college costs. Their services are available in various geographic markets across the United States, catering to a diverse demographic of undergraduate and graduate students seeking financial assistance for their educational pursuits.College Avenue generates revenue primarily through the issuance of private student loans, leveraging an interest-based model that allows them to collect interest payments on loans disbursed to borrowers. The company structures its transactions directly with consumers, facilitating a straightforward loan process that includes rate discounts for autopay. The loan products, including their flagship offerings for undergraduate and graduate studies, are designed to cover 100% of school-certified costs, thus ensuring a comprehensive financial solution for students. The revenue model is supported by an auto-pay interest rate reduction feature, which encourages timely payments while providing a financial incentive for borrowers. Additionally, College Avenue engages in promotional activities, like monthly scholarships, to enhance customer engagement and support.In February 2019, College Avenue Student Loans LLC raised USD 65 mn in VENTURE DEBT funding, which is intended to support the development and launch of new products aimed at expanding their offerings in the educational finance sector. The company seeks to enhance its product line and expand into new geographic markets across the United States, targeting regions with high demand for educational financing solutions. This funding will enable College Avenue to innovate its services and reach a broader audience, ensuring they meet the evolving needs of students and parents in their pursuit of higher education.

## Funding rounds

- Series D, Apr 13, 2017, $30M — Comcast Ventures, Leading Edge Ventures
- Series B, Jun 26, 2015 — Fenway Summer Ventures
- Seed, Aug 1, 2014 — Fenway Summer Ventures

## Investors

- Fenway Summer Ventures (https://capitalatlas.ai/funds/fenway-summer-ventures) — Seed, Series B
- Comcast Ventures (https://capitalatlas.ai/funds/comcast-ventures) — Series D
- Leading Edge Ventures (https://capitalatlas.ai/funds/leading-edge-ventures) — Series D