FutureFuel.io acquires College Finance Company to expand beyond student debt and rebrands itself as Candidly
Candidly Now Provides Full Lifecycle Management of Education Expenses Across Borrowers’ Broader Financial Wellness Journey
NEW YORK, June 15, 2022–(BUSINESS WIRE)–FutureFuel.io, the market’s most comprehensive student debt management platform, today announced the acquisition of College Finance Company, the leading multi-lender marketplace for education finance. The company also announced a complete overhaul of its visual identity, including a new logo, updated branding visuals and a new company name: frankly.
Since its inception in 2016, Candidly has been dedicated to helping borrowers pay off student debt and build savings. During this same period, the student debt crisis soared to nearly 47 million student borrowers before a total of $1.8 trillion. At a time when seven out of 10 college graduates leave school with student loan debt, Candidly has helped users save more than $300 on average per month by optimizing their repayment plan and shortening repayment times by five years on average thanks to employer contributions and its gamification reimbursement tools.
The acquisition and rebrand reflects Candidly’s growth and evolution into a fully configurable financial wellness platform that addresses the full education spending lifecycle. Candidly can be offered as an employee benefit or it can be integrated or seamlessly integrated into a partner’s native experience as part of their financial wellness solution. With its expanded capabilities, Candidly has expanded the population it can serve to more than 80 million Americans, or one-third of the nation’s workforce, which includes not only student borrowers, but also families. who prepare and finance the university.
The Candidly platform now offers a personalized experience where users can prepare and plan their university studies, finance their studies with the most advantageous borrowing options, accelerate and optimize their debt repayment and strengthen their financial well-being via a responsive AI-powered platform that turns micro-actions into positive results. Candidly partners with employers, financial institutions, 401(k) and 403(b) accountants and pension plan advisors, wealth management firms and leading banking service providers including UBS, Fiserv and Salesforce.
“Frankly, paying for college and paying off student loan debt is daunting,” said Laurel Taylor, Founder and CEO of Candidly. “From funding to forgiveness and everything in between, this acquisition allows Candidly to guide users through the education finance journey. I’m thrilled to partner with the incredible team at College Finance Company to meet to this huge unmet market need.”
“Paying for college is one of the biggest financial commitments most people will make in their lifetime,” said Kevin Walker, co-founder and CEO of College Finance Company. “We’ve helped hundreds of thousands of students and parents access the funds they need to pay for their college education and now, with Candidly, we can reach even more students, families and graduates to help them. to make those critical financial decisions.”
“The most important benefit my associates have asked for, beyond student debt savings, is the ability to help families prepare, plan and pay for college,” said Anthony Marino, executive vice president and chief human resources officer at Fiserv. . “We are excited to see Candidly expanding these capabilities to meet this urgent need.”
Candidly also announced several new hires following the acquisition. Kevin Walker, veteran founder of fintech companies such as SimpleTuition and SmarterBank, and former executive of Cognition Financial and LendingTree, joins Candidly and its board of directors as co-founder and chairman. Walker joins an experienced management team, which includes COO Eric Brickman, who was previously one of the original architects of Newport Group, a nationally-known pension and insurance services company with nearly $300 billion. dollars of assets under administration. Candidly also announced Meera Oliva as Director of Marketing and Jackie Ward as Director of Human Resources. Oliva led marketing at Gradifi, prior to its acquisition by E*Trade, and SimpleTuition, prior to its acquisition by Lending Tree. Ward has over 20 years of experience leading human resources in consumer and financial services companies, most recently as Director of Human Resources at Newport Group.
“Candidly’s new brand embodies the company’s efforts to de-stigmatize debt, empower financial freedom, and approach financial conversations with candor and compassion,” Taylor said. “Candidly now supports its entire financial journey for education expenses, helping individuals plan, borrow, repay, and save, so the decision to pursue an education increases lifetime earnings. and net value.”
Candidly, formerly FutureFuel.io, is an AI-powered student debt and savings optimization platform that addresses the full lifecycle of education spending and enables people to simultaneously progress in student debt repayment and wealth creation. Candidly partners with leading employers, financial services companies serving the workplace, like 401(k) and 403(b) recorders, financial institutions, pension plan advisors and more, to embed its experience wherever a user works, banks, or experiences financial services. The platform supports flexible integration options including outlink, SSO, widget integration and APIs that meet partners where they are. are really in resourcing, technical debt and resourcing capacity/product roadmap. Candidly supports multiple branding options, including white labeling and co-branding.
Frankly understands that education is one of the most important investments most people will make in their lifetime, whether for themselves or their children. Frankly brings compassion, authenticity and confidence to Americans as they navigate their higher education – past, present and future. Candidly is backed by leading strategic and venture investors including Aflac, Equal Opportunity Ventures, Impact Engine, Rethink Impact, Salesforce Ventures, UBS, Unum and Vulcan Capital. For more information, visit www.candid.ly.
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