LendKey expands deeper into education through latest partnership

By Emily Nicolle on Monday 13 November 2017

Alternative Lending

The lending-as-a-service solution is tackling college financing head on.

LendKey today announced its newest partnership with Invite Education, an industry-leading platform which aims to demystify the college financing process for families in the US.

Through the partnership, LendKey’s clients will receive free access to Invite Education’s premium services, which includes financial aid calculators, the ability to search potential scholarships and college planning webinars.

Founded in 2009, LendKey pioneered the lending-as-a-service model by creating white-labeled lending solutions that transform financial institutions into profitable digital lending businesses. The company manages the entire lending process, which includes demand generation, online decisioning, loan origination, customer service and balance sheet management.

LendKey recently rounded up its total fundraising to $27.5m, after completing a Series C round of $13m in July.

Similarly, Invite Education provides families with a one-stop shopping experience for higher-education planning. Utilising a range of content and tools, the platform helps families to actively manage the college planning process from birth to graduation.

"Paying for college is often a stressful and daunting challenge for families," said John Hupalo, CEO and Founder of Invite Education. "It is a jargon filled, unfamiliar process and many families do not fully understand how to navigate it.”

College costs have continued to rise year on year, having increased by nearly 1200 per cent from 1978 to 2010.

Vince Passione, CEO and founder of LendKey commented on the partnership: "Given the cost of college education, it is never too early to start planning and saving. 

“The combination of Invite Education's content and planning tools and our lending client's education financing solutions ensures that families have the chance to avoid mistakes and be successful in the college planning process."

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.