Ohio’s KeyBank acquires Philly fintech firm GradFin
Ohio-based KeyBank has acquired public service loan forgiveness counselling platform GradFin for an undisclosed sum.
Founded in 2015 and based in Philadelphia, GradFin offers advisory solutions for people wanting assistance with their student loan debt.
KeyBank, part of KeyCorp, provides deposit, lending, cash management and investment services to individuals and businesses in 15 states.
The firm says the acquisition forms part of its plans to provide digital innovation at scale through strategic partnerships with fintechs.
Jamie Wardor, head of digital at KeyCorp, says GradFin’s digital platform provides “fast and effective” solutions for debt relief and government forgiveness programmes, while its advisors “thoroughly understand the economic environment as well as the specific needs of healthcare providers”.
Chris Walters, CEO of GradFin, says that the acquisition will enable the fintech to launch into its next phase of growth and continue its mission of bringing loan education programmes and market aggregation tools to financial advisors and their clients.
Walters will continue to lead the GradFin team following the acquisition.