# Meritize Financial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/meritize-financial

- Industry: Financial Services
- Headquarters: Frisco, US
- Website: www.meritize.com
- Total disclosed funding: $20M
- Latest round: Series A (Oct 1, 2018)
- Investors on record: 10

## About

Meritize Financial, Inc. provides specialized educational loans designed to support students pursuing skills-based education programs, utilizing innovative assessment tools to evaluate applicants beyond traditional credit scores.Founded in 2016 in Frisco, US, Meritize Financial, Inc. specializes in educational loans for skills-based education. The company was co-founded by Chris Keaveney and Phillip Stegner and has raised USD 13.2 mn in Series A funding, led by Colchis Capital Management, with a focus on addressing the financial barriers faced by students. The company has engaged in two notable deals, with the most recent occurring on October 1, 2018.Meritize offers specialized educational loans tailored for students pursuing skills-based education programs. Their core product, the Meritize Score, assesses applicants based on academic and military experiences along with traditional credit evaluations. This innovative approach expands financial access for motivated students aiming for practical skills and careers, with a focus on high-demand sectors such as manufacturing, healthcare, and technology, primarily in the U.S market.Meritize generates revenue through the issuance of educational loans structured to assist with tuition and related expenses. Their direct-to-consumer model allows for personalized loan evaluations using the proprietary Meritize Score, enhancing approval likelihood for students. The loan agreements include repayment terms aligned with educational costs and comply with regional lending laws across various states in the U.S., thereby facilitating pathways to skilled employment opportunities.Meritize plans to leverage its recent Series A funding of USD 13.2 mn raised in October 2018 to enhance its product offerings and expand its market reach. The company aims to design new loan products that cater to emerging sectors and intends to penetrate untapped geographic regions within the U.S. by 2025. The recent investment will support these initiatives, enhancing operational capabilities and expanding their footprint in the educational financing landscape.

## Funding rounds

- Series A, Oct 1, 2018, $13M — Colchis Capital Management, Chicago Ventures, University Ventures, ECMC Group, Socratic Labs, Cube Financial Holdings, College Loan Corporation, PC Squared, ZZ Ventures
- Seed, Feb 21, 2018, $6.8M — Colchis Capital Management, City Light Capital, Chicago Ventures, University Ventures, ECMC Group, Cube Financial Holdings, College Loan Corporation, PC Squared

## Investors

- Colchis Capital Management (https://capitalatlas.ai/funds/colchis-capital-management) — Seed, Series A
- City Light Capital (https://capitalatlas.ai/funds/city-light-capital) — Seed
- Chicago Ventures (https://capitalatlas.ai/funds/chicago-ventures) — Seed, Series A
- University Ventures (https://capitalatlas.ai/funds/university-ventures) — Seed, Series A
- ECMC Group (https://capitalatlas.ai/funds/ecmc-group) — Seed, Series A
- Cube Financial Holdings — Seed, Series A
- College Loan Corporation — Seed, Series A
- PC Squared — Seed, Series A
- Socratic Labs — Series A
- ZZ Ventures — Series A