CommonBond is based on a model of “social lending.” Student borrowers gain access to fixed rate loans provided by investors who earn a financial return. The platform makes it possible for students to save money on their student loans while allowing investors to earn a competitive financial return.
PRODUCTS & SERVICES:
Online platform for refinancing student loans.
Helps students to bypass conditions like inocme,assets to get loans at a very cheap rate.
Viewable by subscribers only
Nelnet - To offer services to wider
range of customers and helps investors to buy loans.
Makes student loan process faster and at low interest rate. It provides additional features like networking opportunities, panels and events, career support, and much more through “CommonBond Family” platform.
Michael Taormina, David Klein, Jessup Shean
Board Members and Advisors:
Brian Hirsch, Ted Maidenberg, Tripp Jones
NUMBER OF EMPLOYEES:
Victory Park Capital, August Capital, Social Capital, Tom Glocer, Vikram Pandit, Tom Kalaris, Nyca Partners, Tribeca Venture Partners, Nelnet, Charles Stonehill, Nelnet, Tom Kalaris, Thomas Gloce, Vikram Pandit, Tom Glocer, Tribeca Venture Partners, Barclays Investment Bank, MacQuarie Capital Funds
VALUATION / MARKET CAP:
$375 MM in 2016
DATE OF LAST FUNDING:
SEED & PRIOR FUNDING:
SEED CLOSED ON:
$8.65 Millions Closed: Sep 2013
$36.5 Millions Closed: Sep 2015
$30 Millions Closed: Jul 2016
SERIES A :
$150 M - Debt financing
SERIES B :
$575 M-Debt financing