Vault, formerly Student Loan Genius, is an Austin-based student loan benefits platform that helps employers offer student loan repayment and advising programs. Its core products include Vault Pay (employer student loan contributions), Vault Advisor (custom payoff modeling and 1:1 advising), and Vault Match (a 401(k) product that can allocate unused 401(k) dollars to student loan benefits). Vault Match was enabled by a recent IRS private letter ruling allowing employers to contribute to employees' 401(k) funds on behalf of employees who are actively making student loan payments. The company cites recent customer wins including American Family Insurance and lists major employers such as New York Life, Ralph Lauren, Mastercard, and Pinterest as clients. Vault announced $3.5 million in funding and appointed Romy F. Parzick as COO to scale operations and client implementation. Student Loan Genius, led by co-founder and CEO Tony Aguilar, provides employer-facing student loan benefits through products such as Genius Match, Genius Advisor and Genius Pay. Genius Match allows employers to contribute matching dollars toward employees’ student loan payments. Genius Advisor identifies optimal repayment plans and offers 1:1 advisory services to employees. Genius Pay deducts payments directly from payroll and allocates them in the most advantageous way. The company raised $3M in seed funding and intends to use the proceeds to continue its growth and roll out new products. To date, 45 companies have incorporated Student Loan Genius’ student loan benefits into their employee offerings.

Total raised

$7M

Funding rounds

2

Latest round

Seed

Latest activity

Oct 2018