Meritize, a Frisco, Texas-based student lending platform, raised $6.8M in seed funding.
Colchis Capital, Chicago Ventures and Cube Financial Holdings led the investment round with participation from ECMC, College Loan Corporation, University Ventures, City Light Capital, PC Squared and Meritize management.
The company intends to use the funds to accelerate growth, support sales and marketing, expand the team and continue building its platform.
Co-founded by Chris Keaveney and Phillip Stegner, Meritize is an educational lender that uses an individual’s academic data to enhance credit evaluation and expand funding for career-based education.
The company, which was launched in January 2017 with full-phase lending beginning in the third quarter, partners with schools and employers to offer student loans, financing for employer training and career success services.