Savi Solutions PBC

Savi Solutions PBC is a technology-focused firm committed to streamlining student loan management for borrowers, enhancing their ability to navigate repayment and forgiveness options effectively. Founded in 2017, Savi Solutions PBC operates from Washington, US, providing a technology platform that assists student loan borrowers. The company has secured a total of USD 6. 00 mn through Series A funding in April 2020, led by Nyca with participation from entities like 9Yards Capital and AlleyCorp.

Founded by Aaron Smith and Tobin Van Ostern, Savi has completed 3 deals since its inception, focusing on enhancing financial well-being for borrowers across the nation. Savi Solutions PBC offers a technology-driven platform designed to assist student loan borrowers in managing and optimizing their loan repayment and forgiveness options. The company's core product streamlines the process for users to identify potential savings, lower their monthly payments by an average of USD 187, and automate enrollment in various federal and state loan forgiveness programs, including options under the Secure 2. 0 Act.

Savi caters to a diverse client base that includes hundreds of employers, membership organizations, financial institutions, and non-profit entities, all of which aim to enhance their employees' financial well-being by providing robust student loan assistance. The platform is primarily utilized by individual borrowers, including educators, healthcare workers, and service employees, across the United States, addressing the pressing need for effective solutions to the student debt crisis faced by approximately 46 million Americans. Savi Solutions PBC generates revenue through partnerships and collaborations with employers and organizations that offer its student loan assistance technology as an employee benefit. The company employs a subscription-based model, wherein clients—such as Fortune 500 companies—integrate Savi's services into their benefits offerings.

This structure allows the company to provide tailored services that help employees navigate complex student loan repayment landscapes while also ensuring ongoing support for annual re-enrollment and monitoring of emerging benefits. Specific pricing plans for the services offered by Savi have not been disclosed; however, the company’s partnerships with large employers and educational institutions suggest a structured approach to revenue generation, aligned with the value delivered to users in terms of savings and financial management. Savi Solutions PBC plans to utilize its recent Series A funding of USD 6. 00 mn, raised in April 2020, to enhance its platform and expand into new markets.

The company is focused on developing additional products that will improve user experience and engagement. Specific geographic regions targeted for expansion have not been disclosed, but the company aims to reach a wider audience to address the growing student debt crisis. The funding is expected to support the development of innovative features and services tailored to meet the needs of borrowers and employers.