Neuberger Berman’s private equity arm has led a $30m financing round in online student loan company CommonBond.
The firm joined existing investors August Capital, Tribeca Venture Partners, Social Capital, Nyca Partners and Victory Park Capital in the latest round.
CommonBond, which funds and refinances student loans at lower interest rates, also announced $300m in loan purchases from a unnamed asset management firm.
Following the new funding, CommonBond claims to have now raised more than $1bn in financing across equity and debt.
The company has also purchased Gradible, a personal finance platform that provides advice on how to manage and repay student loan, for an undisclosed.
Gradible will add new services to CommonBond’s business, while the new investment will help to build out its platform.
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