US fintech lender Fynn nabs $36m in seed and debt funding
Fynn, a US-based fintech lender providing student loans, has closed $11 million in a seed round and $25 million as a debt facility.
Lead investors include Y Combinator, Susa Ventures, Village Global, Tenacity Venture Capital and Watchfire Ventures.
Founded in 2019, Fynn was a start-up with Y Combinator. It offers students from all backgrounds access to loans to pursue a degree from trade or vocational schools, in a bid to combat America’s skilled worker shortage.
In addition, Fynn also provides three benefits to its loan offering – income protection, payment pauses and loan forgiveness.
“We believe everyone should have access to a quality education and the tools to help them get there, regardless of socioeconomic status,” says Eric Menees, CEO and co-founder at Fynn.
“Fynn members go on to pursue careers in high-demand fields like the industrial, construction, and manufacturing trades, along with allied health and medical technology.”
With the new funding, Fynn plans to expand across the US and offer its services to more students looking to further their education.
The start-up currently provides loans to 150 programmes across the US, and since its launch in July last year, Fynn has given out more than $4 million in loans.