About Earnest
Earnest is a company based in San Francisco (United States) founded in 2013 was acquired by Navient in November 2017.. Earnest has raised $107 million across 4 funding rounds from investors including Navient, New York Life Insurance and Atlas Venture. The company has 131 employees as of December 31, 2018. Earnest operates in a competitive market with competitors including SoFi, Avant, Moneylion, Oportun and Asaak, among others.
- Headquarter San Francisco, United States
- Employees 131 as on 31 Dec, 2018
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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- Legal Name Earnest Inc
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Software Development Team
42 people
Product Management Team
15 people
Human Resources and Administration
6 people
Legal and Compliance
4 people
Leadership Team
4 people
Creative and Marketing Team
4 people
Operations Team
3 people
Lead Team
2 people
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Funding Insights of Earnest
Earnest has successfully raised a total of $107M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $75 million completed in November 2015. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $75.0M
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First Round
First Round
(20 May 2014)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2015 | Amount | Debt – Conventional - Earnest | Valuation |
investors |
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| Nov, 2015 | Amount | Series B - Earnest | Valuation | Battery Ventures | |
| Jan, 2015 | Amount | Series A - Earnest | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Earnest
Earnest has secured backing from 10 investors, including institutional and venture fund investors. Prominent investors backing the company include Navient, New York Life Insurance and Atlas Venture. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments in technology companies are conducted globally by Battery Ventures.
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Founded Year | Domain | Location | |
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Private markets investment management with strategies in equity, credit, and secondary investments.
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Founded Year | Domain | Location | |
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Venture capital investments in consumer businesses, emphasizing technology and human behavior.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Earnest
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Earnest
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Earnest Comparisons
Competitors of Earnest
Earnest operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as SoFi, Avant, Moneylion, Oportun and Asaak, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Various consumer loans and financial services are offered online.
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| domain | founded_year | HQ Location |
Consumer loans are facilitated via an online platform.
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| domain | founded_year | HQ Location |
Instant consumer loans and mobile banking are offered online.
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| domain | founded_year | HQ Location |
Online platform for consumer loans
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| domain | founded_year | HQ Location |
Consumer loans are facilitated online based on credit scores.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Earnest
Frequently Asked Questions about Earnest
When was Earnest founded?
Earnest was founded in 2013 and raised its 1st funding round 1 year after it was founded.
Where is Earnest located?
Earnest is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Earnest a funded company?
Earnest is a funded company, having raised a total of $107M across 4 funding rounds to date. The company's 1st funding round was a Series A of $17M, raised on May 20, 2014.
How many employees does Earnest have?
As of Dec 31, 2018, the latest employee count at Earnest is 131.
What does Earnest do?
Earnest is a direct lender providing student loan refinancing and personal loans. Student loans ranging from 5K to 5M can be refinanced by students as well as parents with interest rates starting from 2.75 APR. Loans are offered to students graduated from Title IV accredited schools who are employed currently. Earnest offers both fixed and variable interest loans and claims to generate average savings of 21K through refinancing. Earnest looks beyond credit score and evaluates a persons full education, employment, and financial profile. Earnest also offers personal loans up to 50K with fixed interest rates starting at 5.25 APR.
Who are the top competitors of Earnest?
Who are Earnest's investors?
Earnest has 10 investors. Key investors include Navient, New York Life Insurance, Atlas Venture, Battery Ventures, and Adams Street Partners.
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