Online Lender Earnest Raises $275M In Financing Round

Lending platform Earnest wants to help millennials manage their finances. To build out its offering of loans and other financial management tools, the company has raised $75 million in funding, plus $200 million worth of loan capital from New York Life. Battery Ventures led the round, which saw participation from Adams Street Partners and Maveron.

Earnest is a skilled team of design, math, finance, and technology geeks who think differently about trust within the financial system and decided to do something about it. They started Earnest to build a finance company that combines rich data analytics, simple, functional design, and elegant software to bring people a fast, low-cost, and hyper-personalized experience. Their mission is to greatly enhance people’s lives by lowering the high costs and barriers to credit faced by millions of financially responsible people.

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