Splash Financial, a student loan refinance marketplace, has collected $12.3m in its Series A round to support growth in the US.
The investment was co-led by CMFG Ventures and Northwestern Mutual Future Ventures.
With the fresh round, the company will expand its reach in the US, onboard more lending partners and continue to help students save money on their loans.
The FinTech offers an online platform to help students refinance their loans to get better rates. Variable rates begin at 1.99% and fixed rates start at 2.88%.
The FinTech recently surpassed the 100,000 unique customer mark and has received $6bn in refinancing requests.
Splash Financial founder and CEO Steven Muszynski said, “Student loan debt has held people back from pursuing their career dreams, starting a family, and quite often even from moving out of their parent’s home. We are excited to be able to offer such a strong solution that allows people to get out of debt faster and move their life forward.p>
Northwestern Mutual Future Ventures managing director Craig Schedler said, “Millions are living with student loan debt, which can have a significant impact on their financial plan now and in the future. Splash offers an important solution to help people save money each month and over the life of their loan.”
Copyright ? 20020 FinTech Global
