Fynn, a fintech lender that provides private student loans to America’s skilled workforce, announced today the completion of a $11 million seed round and a $25 million debt facility. Y Combinator, Susa Ventures, Village Global, Tenacity Venture Capital, and Watchfire Ventures are among the early investors.
The seed funding will be used to expand Fynn’s services across the United States and to assist students pursuing higher education.
As the United States continues to face its worst labor shortage since World War II, Fynn is providing students with safe, fair, and affordable loans to attend qualifying trade schools, putting them on a path to stable careers and a middle-class lifestyle.
Every year, millions of students attempt to pursue skilled labor careers, only to be thwarted by financial constraints. Federal financial aid is frequently extremely limited or non-existent at trade schools. Fynn is filling the void by enabling students to attend school, receive the necessary training, and enter the skilled labor force.
Unlike most traditional private student lenders, Fynn is committed to the student’s long-term success and offers member benefits to assist recent graduates in reducing stress and staying on track with payments as they begin their careers. Fynn’s loan comes with three major built-in benefits: income protection, payment pauses, and loan forgiveness.
Fynn provides a path to the American middle class through financially accessible loans for trade and vocational education. Fynn underwrites students based on their future potential and aligns its interests with schools and students to fully support success from enrollment to employment. Everyday American gain access to education that promotes long-term financial stability by partnering with Fynn.
Fynn, which was founded in 2019, went through Y Combinator and has since raised $36 million in funding from a variety of investors, including Susa Ventures, a seed investor in Robinhood and Flexport. Fynn’s founders were named to the Forbes 30 Under 30 list in the Education section in 2023.
Fynn currently lends to 150 different programs across the United States, assisting students at prestigious trade schools such as Heartland Welding Academy and The Medical Institute of Kentucky. Fynn can incorporate future potential into lending decisions by partnering with schools that have high graduation and job placement rates. This gives credit-invisible students a fair chance. Fynn has given over $4 million in financial aid to students in need since the launch of its flagship product in July 2022.