About Paytronage
Paytronage is an Education company based in New York (United States) founded in 2017, and was acquired by Lumni in May 2018. Student financing is facilitated via peer-to-peer income share agreements. It operates in the Education and Financial Services sectors. Its focus areas include FinTech, Alternative Lending, Online Lenders and Consumer Loans. Its competitors include Navient, College Ave and ClimbCredit; 2 of its 3 listed competitors have raised funding.
Company details
Paytronage provides an onlineP2P platform for student financing. Students enter into an income share agreement (ISA) where they receive the funding needed for school in exchange for a set percentage of future income for a fixed period of time. In case of financial difficulty, students can also defer payments for up to 60 months with no penalty. The ISA rate is arrived by judging factors such as test scores, university, major, likely career path. Investors can set fund criteria to receive applications from only students that meet specific qualifications. The platform uses its propriety income-prediction models that price the necessary percent of income required based on the desired internal rate of return. Charges a 2 monthly repayment fee from investors.
- Headquarters New York, United States
- Stage Acquired
- SectorsEducationFinancial Services
- Email••••••••
- Phone•••• ••••
- Website paytronage.co
- Social LinkedIn X Facebook
- Acquired by Lumni (May 2018)
Investors in Paytronage
Paytronage has secured backing from 1 investor. Prominent investors backing the company include Lumni.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Income-share agreements for educational financing are provided to students. | 2002 | lumni.net | Bogota, Colombia |
Investor details for Paytronage
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Timeline of Paytronage
2 dated milestones of Paytronage across 1 years, from founding to its latest funding, stage changes and deals.
- Founded Paytronage is founded.
- Exit Acquired by Lumni.
Competitors of Paytronage
Paytronage has 3 listed competitors in our database, 2 of them funded. They include Navient, College Ave and ClimbCredit.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| navient.com | 2014 | Wilmington, United States | 4,500 | Student loans and federal servicing are provided by Navient. | ||
| collegeavestudentloans.com | 2014 | Wilmington, United States | $50M | 87 | Student loans marketplace for undergraduate and graduate education is operated. | |
| climbcredit.com | 2014 | New York, United States | $12.9M | 55 | Education loans are offered to students at partner schools. |
Detailed competitors of Paytronage
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Top companies in Education Technology Platforms
3 companies that operate in the same segment as Paytronage (Education Technology Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Developer of a platform providing gamified language learning through interactive exercises | 2011 | Pittsburgh, Pennsylvania, United States | USD 183.3 M | USD 748.02 M | 900 | |
Cloud-based software for K-12 education is provided. | 1997 | Folsom, California, United States | USD 32 M | USD 47.59 M | 1,308 | |
Online platform for preschool management and parent updates is offered. | 2014 | San Francisco, California, United States | USD 88.8 M |
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Related news about Paytronage
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Frequently Asked Questions about Paytronage
Paytronage was founded in 2017.
Paytronage is headquartered in New York, United States. It is registered at New York, New York, United States.
Paytronage provides an onlineP2P platform for student financing. Students enter into an income share agreement (ISA) where they receive the funding needed for school in exchange for a set percentage of future income for a fixed period of time. In case of financial difficulty, students can also defer payments for up to 60 months with no penalty. The ISA rate is arrived by judging factors such as test scores, university, major, likely career path. Investors can set fund criteria to receive applications from only students that meet specific qualifications. The platform uses its propriety income-prediction models that price the necessary percent of income required based on the desired internal rate of return. Charges a 2 monthly repayment fee from investors.
Paytronage's top competitors include ClimbCredit, Navient and College Ave.
Paytronage has 1 investor. Key investors include Lumni.
Yes. Paytronage was acquired by Lumni in May 2018.