Student lender Climb Credit has agreed to sell $130M of loans it originated to investors.
The move allows the company to expand its offerings to students in additional fields of study.
“This transaction is further testament to our innovative approach to building a student lending platform focused on quality skills-based programs that increase their students’ earning potential,” Climb Credit cofounder and CEO Zander Rafael said. “Thousands of students have leveraged our platform to access schools and, with this transaction, we’ll be able to offer it to thousands more.”
“We are pleased to add Climb Credit to the list of digital finance origination platforms that have been approved for our private investment funds,” HCG Funds co-founder and CEO Hadi Habal said of his firm’s participation in the transaction.
“Climb Credit’s introduction of digital lending into the skills-based education market fits well with our vision of an ever-expanding digital finance investing ecosystem.”
Climb Credit will also maintain its relationship with Ferry Farm Capital that dates to its inception.