Goodly builds a platform that makes it simple for employers to offer tax-free student loan repayment as an employee benefit, with each employee getting a personal account and dashboard to manage loans. The product includes features like financial-wellness counseling and the ability for friends or family to make one-time or recurring contributions directed to an employee’s loan. Goodly has exclusive distribution relationships with brokers including NFP and Willis Towers Watson. The company passed through Y Combinator after launching in 2018 and operates with a five-person team. Goodly is profitable and has said typical employer contributions are about $100 per participant per month; the 2021 Consolidated Appropriations Act allows up to $5,250 annually per employee. Management cites tailwinds from the tax-free contribution provision and the planned end of federal student loan forbearance that could increase employer interest in the benefit. CEO Gregory Poulin and co-founder/CTO Hemant Verma lead the company’s operations and product strategy. Goodly offers a "set it and forget it" platform that automates employer contributions to employee student-loan principal and integrates with payroll and benefits provisioning. Employers are charged $6 per month per participating employee, and Goodly typically sees 30–40% employee adoption. Rather than subsidizing monthly payments that include interest, the service applies contributions to core debt to accelerate payoff. Employees get a dashboard to track their debt and employer contributions. The YC-backed startup reports it has not had a single customer churn since launch and aims to capitalize on growing employer interest in student loan repayment benefits. Goodly recently raised seed funding to expand adoption as more companies consider offering repayment perks.

Total raised

$1M

Funding rounds

2

Latest round

Seed

Latest activity

Mar 2019