Frank, a New York-based student-facing startup, has raised $5 million in the latest round of financing which finished in early March, according to TechCrunch.
According to Frank founder and CEO Charlie Javice, previous investors Aleph, Marc Rowan and new investor GingerBread Capital took part in this round. The company raised $10 million in a Series A and $5.5 million in a seed round in 2017.
Founded in 2016, Frank is a financial platform that helps college students manage their financial aid and student debt.
Due to the Covid-19, Javice told TechCrunch that “like everyone else,” her company is “adjusting to the new realities.” She added that college and university attendance “has typically been countercyclical” and that her company is “seeing a large demand for higher education and specifically financial aid.”
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