Earnest
Latest round
- Series C
Last raised
- Mar 2017
Total raised
- $112M
Investors
- 10
About Earnest
The company was founded by Charlie Maynard and has undergone a significant pivot, focusing on technology-driven loan services. In October 2017, the company was acquired by Navient Corp for USD 155 mn. The company offers a range of financial products, including student loan refinancing, personal loans, and Parent PLUS refinancing. Their services enable borrowers to consolidate both federal and private student loans into a single, manageable payment with flexible terms tailored to individual financial situations. By employing a technology-driven approach, Earnest allows users to check their potential loan rates and customize their repayment plans through an efficient online platform accessible via mobile devices and computers.Earnest generates revenue through its lending operations, which involve issuing loans to consumers in exchange for interest payments over the life of the loan. Transactions typically occur directly between Earnest and its clients, who may be individuals seeking to refinance existing loans or obtain new loans for educational purposes. The pricing structure for Earnest's offerings is competitive, aligning with industry standards for low-interest loans with virtually no fees. Clients benefit from the absence of late payment fees and other hidden charges, which enhances customer satisfaction and loyalty.With the recent acquisition by Navient Corp in October 2017, Earnest plans to leverage this new partnership to expand its market presence and enhance its loan offerings. The company is focusing on developing new financial products aimed at broader consumer demographics, with potential launches expected in the near future. The partnership will also facilitate expansion into new geographic regions, particularly targeting areas with increasing educational needs.
Who invested in Earnest
10 investors across 3 rounds
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Questions about Earnest
Who invested in Earnest?
Earnest has 10 investors on record across 3 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Earnest raised?
Earnest has raised 3 venture rounds. Sign up free to see how much each round raised and the total.
When did Earnest last raise money?
Earnest's most recent round on record is a Series C, in Mar 2017.
What does Earnest do?
The company was founded by Charlie Maynard and has undergone a significant pivot, focusing on technology-driven loan services.
Where is Earnest headquartered?
Earnest is headquartered in San Francisco, US.
Which VCs invest in companies like Earnest?
Among active investors with capital left to deploy, Radical Ventures, Ribbit Capital, TrueBridge Capital Partners and Tribe Capital back financial services companies at Earnest's stage. Their profiles are linked below.
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