FinovateSpring 2016 / Student Loan Genius
Presenter Profile:
How they describe themselves: With $1.3 trillion in student loan debt looming, the United States is presented not only with a student loan problem, but a personal financial crisis that prevents hard-working individuals from getting to the next stage in their lives. That’s why Student Loan Genius, Austin-based inventor of the first complete student loan benefits solution, has stepped up to eradicate the problem by offering companies a way to help pay off their employees’ student loans debt, convert making student loan payments into a wealth-building activity, and ultimately attract and retain today’s top talent.
How they describe their product/innovation: The Student Loan Genius 401(k) Contribution Feature 401(k) contribution feature empowers employers to help their employees get a leg up on retirement savings while reducing their student loan debt. Put simply, employees make their student loan payments, and based on a payment, the company makes a pre-tax contribution into the employee’s 401(k) or other retirement account. By putting unused, already budgeted, pre-tax retirement plan dollars to work, this new feature helps break down one of today’s biggest investment roadblocks for employees held back by student debt.
Product distribution strategy: Direct to Business (B2B)
Contacts:
Bus. Dev. & Sales: Seth List, Director of Sales & Business Development, sales@studentloangenius.com
Press: Jovan Hackley, Director of Marketing & PR, pr@studentloangenius.com
Website: studentloangenius.com
Blog: studentloangenius.com/smarts
Twitter: @MySLGenius
HQ: Austin, TX
Founded: July 2013
Product Demoed: Student Loan Genius, Genius Match, 401k Contribution feature
Product Launch: March 4, 2016 (announcement), April 1, 2016 rollout
Metrics: Inspired by their own personal student loan debt experiences, the Student Loan Genius team of 14 is committed to responsibly improving the financial outlook for all employees with student loans. The company is backed by 3 million in seed funding, largely spearheaded by Gibraltar Ventures, an affiliate of Prudential, along with an affiliate of John Hancock/Manulife, Kapor Capital, which invests in organizations led by diverse teams that develop social impact solutions, Capital Factory and Village Capital. Student Loan Genius is currently providing benefits to 45 organizations across the United States.
Presenters: Tony Aguilar (CEO & Co-Founder), Emiliano Villarreal (Chuck Norris of Product & Co-Founder)
- Key Executives
Tony Aguilar Founder (CEO), Emiliano Villarreal (Founder, Chuck Norris of Product), Rick Benavidez (Head of Development)
Key Stats
- Key Investors
Christopher Penner (VP, Investments Gibraltar Ventures & Prudential), Tim Ramza, (CIO, John Hancock & Manulife), Mitch Kapor (Partner, Kapor Capital
- Key Partnerships
Prudential Financial Teach for America
- Key Customers
Prudential Financial, Kronos, Twilio, BP3 Global