Credible operates a multi-lender marketplace that connects borrowers with vetted lenders for student loans, refinancing and personal loans. Its flagship product, LenderExpress, is an intelligent pre-qualification engine that shows borrowers the actual rates they’ll qualify for in real time without impacting credit scores. The platform emphasizes consumer control over data sharing and targets millennial borrowers seeking unbiased loan comparisons. Management says the company has seen rapid growth since launching LenderExpress, with more than 85,000 people qualifying for loan offers in 2016. Credible plans to use new funding to accelerate development of data-driven technology and continue rapid product innovation. Stephen Dash is the company’s founder and CEO, and the company is based in San Francisco. Credible is a multi-lender marketplace for student loans that secures firm, legally binding loan offers for borrowers to evaluate and select. The platform works with 12 lending partners and issues fixed credit quotes that are valid for 30 days. Credible also offers a student loan refinancing product for graduates to refinance federal and private student loans. The company earns revenue by taking a transaction fee from the lender once a credit line is accepted. Credible was founded in 2012 and is led by CEO Stephen Dash. According to Dash the addressable refinancing market totals about $200 billion, of which roughly $5 billion is actually being refinanced today. Credible Labs operates an independent marketplace for student loan refinancing, enabling recent graduates and young professionals to shop and compare offers from multiple lenders. The company is not a lender but a matchmaker that provides a single application to surface personalized refinancing options. Credible reports borrowers saved an average of $11,688 by refinancing through its platform in 2014. It has seen significant growth in lender participation and aims to remove friction in the refinancing process while giving lenders access to the types of borrowers they want to underwrite. Credible plans to use new funding to expand its team and build user-friendly features to help millennials make informed decisions about their finances. The company was highlighted as the winner of LAUNCH 2.0 at San Francisco’s LAUNCH Festival. Credible is a San Francisco-based startup operating a Kayak-style marketplace to simplify private student loan refinancing. Users complete a seven-question qualification, create a profile, link existing loans and submit a single offer request that lenders use to produce refinancing offers shown in a secure dashboard. The service is offered for free to borrowers; Credible plans to generate revenue by collecting fees on disbursed loans rather than through lead-generation. During its beta the startup enrolled 30,000 students and the article notes one borrower is projected to save more than $40,000 in interest over the life of a refinanced loan. Credible closed a $500,000 seed financing from a mix of venture funds and angel investors to support its launch and marketing. Founder Stephen Dash says the team intends to expand supported lenders over the coming year and explore applying the platform to other complex application processes in banking and insurance.

Total raised

$23M

Funding rounds

4

Latest round

Series B

Latest activity

Jan 2017