Credible, a platform that enables students to compare student loans and switch lenders raised $500k from a group of angel investors.
Credible also took home the Best 2.0 Company Award at this week’s LAUNCH Festival.
Many students could save significant amounts of money by switching lenders but don’t as the process is too complicated and time consuming.
Credible enables students to find out if they are eligible for lower interest rates by letting them compare their loan profiles with those of peers with similar income and thus learn about what these peers are paying as interest rates.
Credible also allows students to quickly qualify their eligibility in a 7-question process ranging from current employment over salary to credit score. Based on these data points students receive an overview about their options and can then file a single offer request form to refinance their student loan payments.
Credible sees the student loan market just as one vertical the startup can apply its technology to and plans to expand its platform into every banking and insurance application process.
- With $500K In The Bank, Credible Launches A Kayak-Style Marketplace To Simplify Student Loan Refinancing | TechCrunch