CommonBond, a NYC-based financial technology company that allows students and graduates to pay for higher education, raised $50M in Series D financing.
The round, which brings total funding raised to over $130M, was led by Fifth Third Capital Holdings, LLC, a wholly-owned subsidiary of Fifth Third Bancorp (NASDAQ: FITB), with participation from First Republic Bank (NYSE: FRC) and Columbia Seligman Investments and existing investors Neuberger Berman, August Capital, and Nyca Partners, and individual investors Vikram Pandit, former CEO of Citigroup, and Tom Glocer, former CEO of Thomson Reuters.
The company intends to use the funds to accelerate growth and invest further in technology.
Led by David Klein, CEO and co-founder, CommonBond offers a complete suite of student loan solutions, including: refinance loans for graduates, new loans for current students, and student loan benefits for employees through its CommonBond for Business™ platform.
To date, the company has funded over $1.5B in loans and signed more than 200 CommonBond for Business partners.