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Summer
Student loan management & repayment platform
- 21-100 employees
- Fintech
- B2B
- Personal finance
- Lending
- Financial Services
- Midtown East, New York, NY
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Company mission
To act as a “trusted advisor” to student loan borrowers.
Our take
Nearly two trillion dollars in outstanding student loans has pulled more than 45 million US students, and the country at large, into a student debt crisis. It’s attracted the attention of a slew of fintech startups and investors looking to build solutions - some of them available for companies to offer their staff as employee benefits. Summer is one of them, but doing something unique.
Summer scans multiple sources to compile a directory of student loan forgiveness and repayment opportunities, and uses these options to build a personal debt management program for eligible employees - all managed digitally. Not only is this a savvy way for employers to improve benefits packages for top-tier graduates in a hot labor market, it’s also something for which they've recently begun to receive tax incentives.
Summer's seen good sign-up, and has helped tens of thousands of borrowers save millions of dollars. Through a partnership with Credit Karma, the company has also been broadening its service out beyond being a simple employment benefit. It has also raised significant funds towards expanding the reach of the platform.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Significant equity allocations
- Flexible vacation/PTO
- Healthcare coverage
- 401(k) plans with an employer match
- Contribution toward student loan repayment
Company values
- Empathy
- Diversity
- Growth
- Determination
- Humility
- Fun
Funding (last 2 of 8 rounds)
Apr 2024
$9m
EARLY VC
Apr 2023
$6m
SERIES A
Total funding: $32.8m
This company has top investors
Leadership
Will Sealy
(CEO)Has held various Washington positions, including White House business council, policy analyst and special assistant to Elizabeth Warren at the US Department of the Treasury. Was also an advisor and student loan policy expert at the Consumer Financial Protection Bureau.
Vincent Tran
(CPO)Previously an investment analyst at Loews Corporation, before moving into senior product roles at Orchard Platform and then Pave. Subsequently returned to investment with the Partnership Fund for New York City.
Paul Joo
(COO)Consulted with TechnoServe and BCG before working as a law associate at Davis Polk & Wardwell LLP.