Led · Debt Financing · Mar 2022

Edly operates a student loan platform that matches investors with students using income-based repayment (IBR) loans, a regulated private-sector lending model. The platform underwrites borrowers using historical outcome data from sources such as the Department of Education, BLS, private databases, and Edly’s proprietary data rather than traditional credit scores or co-signers. Edly plans to use recent financing to fund IBR loans to students across the U.S. The company has funded more than 4,000 students since its 2019 launch and is available to provide financing to students at over 1,800 U.S. colleges and universities. Led by CEO Chris Ricciardi, Edly’s student IBR loans are unsecured personal loans originated by FinWise Bank, a Utah‑chartered commercial bank and FDIC member. The platform emphasizes social-impact investing in education and tailors repayment to borrowers’ starting salaries and career progress. edly operates an income share agreement (ISA) marketplace connecting accredited ISA investors with ISA issuers including colleges, skills academies and vocational schools. The platform offers liquidity to schools through its capital market of accredited ISA investors and lists programs that include millions of dollars of ISAs from issuers such as Holberton School, V School and Bottega. Pending listings on the marketplace include Sabio, Advanced Welding School and American Diesel Training Centers. The company is led by CEO and co-founder Chris Ricciardi and is based in New York City. edly closed a seed financing round of undisclosed amount led by Mistral Venture Partners. It intends to use the funds to expand market development and continue innovating in education finance.