Frank, a New York-based provider of a platform for students to apply for financial aid, raised $5m in funding.
Backers included strategic investor Chegg, existing investors Aleph and Apollo Global Management cofounder Marc Rowan, and new backer GingerBread Capital. In conjunction with the funding, Heather Morris, Chief Strategy Officer at Chegg, is joining Frank’s board of directors.
The company, which has now raised more than $20m to date, intends to use the funds to expand operations and its business reach.
Led by founder and CEO Charlie Javice, Frank provides a software platform which allows students to find the best ways to pay for school in terms of scholarships, state aid, workforce grants, and discounts via an online process.