Earnest is a technology-lender that brings low-interest loans to high-potential people.
Earnest was built on the principle that getting a loan shouldn’t be difficult for financially responsible people. Earnest offers student loan refinancing and personal loan. It uses its unrivaled technology to consider more than just a credit score; it looks at thousands of data points such as education, saving patterns, investments, and career trajectory. Customers apply online and can manage their account payment preferences with the online dashboard and mobile app.Earnest was founded in 2013, by Louis Beryl and Ben Hutchinson, and had its official launch in early 2014. Earnest raised several rounds of funding from investors including Andreessen Horowitz, Maveron, Battery Ventures, Atlas Ventures, and several others. In 2017, Earnest was acquired by Navient Corp. Navient maintains Earnest as a separate brand while allowing Earnest to be backed by a larger company.Earnest has grown from distributing $8M loans in its first year of business to distributing nearly $2B in student loans and having a roughly $500M loan portfolio in 2017. Earnest has been included in Fast Company’s World’s 50 Most Innovative Companies list. The company lends across the United States in 45 states and the District of Columbia. In August 2017, it was announced that Earnest would open a second office in Salt Lake City, Utah.
Announced Date | Round | Money Raised | Number of Investors | Lead Investors | Post Valuation | |
---|---|---|---|---|---|---|
Mar 31, 2017 | Series C | $20M | 2 | — | — | Detail |
Nov 17, 2015 | Series B | $75M | 3 | Battery Ventures | — | Detail |
Nov 17, 2015 | Debt Financing | $200M | 1 | New York Life Insurance | — | Detail |
Jan 27, 2015 | Series A | $17M | 11 | Maveron | — | Detail |
May 20, 2014 | Seed | $4.30M | 8 | Maveron | — | Detail |
Date
Company Name
|
Round | Money Raised | Industry | Lead Investor |
---|---|---|---|---|
Sep 28, 2010
TigerConnect
|
Angel | $1.50M | Collaboration | — |
Investor Name | Lead Investor | Funding Round |
---|---|---|
Battery Ventures | Yes | Series B |
New York Life Insurance | Yes | Debt Financing |
Accomplice | — | Series C |
Maveron | — | Series C |
Adams Street Partners | — | Series B |
Andreessen Horowitz | — | Series A |
Brendan Wallace | — | Series A |
Collaborative Fund | — | Series A |
Correlation Ventures | — | Series A |
First Round Capital | — | Series A |
Earnest has acquired 1 organizations. Their most recent acquisition was Going Merry on Sep 15, 2021. They acquired Going Merry for 0.
Date
Company Name
|
Industry | Acquisition Type | Price | |
---|---|---|---|---|
Sep 15, 2021
Going Merry
|
Education | acquisition | — | Detail |