Comcast invests in Wilmington student loan start-up
Comcast Ventures, the venture capital arm of the cable giant, has invested in Wilmington's College Ave Student Loans. The College Ave Student Loans start-up operates an online marketplace to connect college students with loans for college.
Comcast Ventures, the venture capital arm of the cable giant, has invested in Wilmington's College Ave Student Loans.
The College Ave Student Loans start-up operates an online marketplace to connect college students with loans for college.
Comcast Ventures, part of Comcast Corp., was the largest investor in a $20-million financing round that includes Fenway Summer Ventures, DW Partners and former Sallie Mae CEO Albert L. Lord.
College Ave Student Student Loans launched in 2014 and originated its first college loan in January 2015.
Comcast Ventures managing director David Zilberman said that the firm would loan "hundreds of millions of dollars" to college students and grow rapidly. Comcast Ventures would be looking at startup firms in financial services as investment targets. "There's a lot of innovation happening in the financial industry," he said.
College Ave had a "millennial-oriented" business model to engage young adults and use advanced analytics to evaluate loan applications. The company employs 24 people in Wilmington.
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