It’s been no secret lately that the student loan system is broken. Student loan management platform Tuition.io, who we saw on stage at FinovateFall two years ago, is seeking to help out borrowers and has quickly gained traction.
As proof, the company announced today it received an undisclosed amount of funding from Raj Date through advisory and investment firm, Fenway Summer. Contributors to the California-based startup’s 2013 seed round include:
- Mohr Davidow Ventures
- Rob Glaser
- Richard Wolpert
- Neu Venture Capital
- Launchpad LA
- Rothenberg Ventures
- Atom Factory
- AF Square, LLC
In addition to this news, it also announced it’s managing $1 billion in loans on its platform. This is up two-fold from just one year ago. When we interviewed CEO Brendon McQueen in April of last year, he reported the platform had $500 million under management.
Check out the live demo of Tuition.io’s platform from FinovateFall 2012.