Student Loan Genius, an Austin, TX-based student loan benefits provider, raised $3m in seed funding.
The round was led by Gibraltar Ventures, an affiliate of Prudential, along with an affiliate of John Hancock/Manulife, with participation from Kapor Capital, Capital Factory and Village Capital.
The company intends to use the funds to continue its growth and roll out new products.
Led by Tony Aguilar, co-founder and CEO, Student Loan Genius provides Genius Match, a platform that allows employers to contribute matching dollars toward employees’ student loan payments. In addition, the subscribers also have access to the Genius Advisor, which identifies the best repayment plan and provides a 1:1 advisory service to employees, and the Genius Pay system, which deducts payments directly from payroll and allocates them in the most advantageous way possible.
To date, 45 companies have incorporated Student Loan Genius’ student loan benefits into their employee offerings.