Student loan marketplace, College Ave Student Loans, announced on Thursday it secured $30 million during its fourth equity round. Investors of the funding round included new and existing participants, which included Comcast Ventures and Leading Edge Ventures. Speaking about the funding, Joe DePaulo, College Ave Student Loans co-founder, chairman, and CEO, stated:
“We are very satisfied with our recent capital raise. We exceeded our target funding goal this round, which reflects the rapid, smart growth of our company and the value investors see in us.”
Funds from the round will be used for College Ave’s growth and enable expansion in order to meet education financing needs. Dave Zilberman, Managing Director at Comcast Ventures, added:
“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. We look forward to supporting this talented leadership team and the company’s continued growth.”
Founded by former Sallie Mae executives and industry veterans to address the needs of an evolving student loan landscape, College Ave began originating loans in December 2014.