College Ave Student Loans, Wilmington, has secured $30 million in funding. Fourth-round investors include new and existing participants, such as Comcast Ventures and Leading Edge Ventures. This round of funding was oversubscribed, with the initial target of $25 million.
“We are very satisfied with our recent capital raise,” said Joe DePaulo, College Ave CEO. “We exceeded our target funding goal this round, which reflects the rapid, smart growth of our company and the value investors see in us.”
The capital raised will fund College Ave’s growth and enable expansion to meet the education financing needs of new market segments. College Ave delivers personalized funding options to students at more than 2,500 campuses nationwide.
“College Ave continues to prove their ability to grow their business by putting their customers first, all while navigating the intricacies of the student loan marketplace,” said Dave Zilberman, managing director at Comcast Ventures. “We look forward to supporting this talented leadership team and the company’s continued growth.”
Moelis & Company served as financial advisor and Milbank, Tweed, Hadley & McCloy LLP provided legal counsel for the transaction.
College Ave Student Loans is using technology and industry expertise to connect families who need to cover education costs with lenders who can provide that funding.