Participated · Equity · Apr 2020

Frank builds a TurboTax-like product for college financial aid, guiding students through forms and aid processes to help them collect as much grant and aid as possible while avoiding loans. The company focuses on keeping student debt low by helping applicants complete federal aid programs and avoid dropping out with debt but no degree. In mid-2019 Frank slowed growth to improve margins, a strategy the CEO says helped it remain in a comfortable cash position. CEO Charlie Javice has said the firm was in a comfortable cash position before this latest round and that the new funding is more a vote of confidence than a necessity. Frank is adjusting to COVID-19 realities and reports seeing large demand for higher education and specifically financial aid. With the additional funding it expects to meet increased demand for its services. Frank automates the Free Application for Federal Student Aid (FAFSA) process, positioning itself as a TurboTax for college loan and aid applications. The company was founded by Charlie Javice and launched a pilot in March serving low-income students at Bronx high schools. Its core product is free for basic FAFSA assistance; it monetizes via a $500 flat fee for premium services such as aid appeals and expert FAFSA reviews. Frank serves students applying to four‑year colleges as well as vocational and technical schools (about 40% of its base over the summer). Customers skew 63% young women, 83% aged 17–24, and nearly half are first-generation college students; the company also assists veterans. Frank has 18 full‑time employees (10 in Israel, 8 in the U.S.) plus a student support team and is partnering with New York, Texas and Pennsylvania on state aid programs. The company plans to expand into helping students manage loan repayment in the future.

Led · Equity · Mar 2016

Passeidireto.com operates an academic network that connects university students and their knowledge through a website and app. The company plans to use the new capital to expand its product catalog and improve user experience on both site and mobile. Management says the business currently records about 50 million visits per year, with roughly 5 million users coming from outside the country. The raise is intended to fund new and improved products for Brazilian students this year and to support expansion into new countries beginning next year. Chegg’s executive Nathan Schultz has joined Passeidireto.com’s board, reflecting a strategic partnership with the U.S. education company.