Candidly, the market’s leading student debt management platform, today announced that it is the winner of the “Best Student Loan Management Platform” award in the 7th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough. This is the second consecutive year that Candidly has been recognized with a FinTech Breakthrough Award.
Candidly’s winning solution is an AI-driven student debt and savings optimization platform that empowers users to move beyond their student debt and into building wellness and wealth. The platform provides users with solutions for optimizing repayment strategies, forging a path to loan forgiveness, making budget-friendly extra payments, alongside financial literacy content, and a curated marketplace that enables users to access the lowest cost of capital available to them. Candidly also facilitates employer-sponsored benefits like tax-free contributions to student loans (up to $5,250 annually), SECURE 2.0-compliant student loan retirement match programs, and other services like coaching.
“We are mission driven in everything we do, design, and deliver. Candidly’s elegant and easy digital experiences empower users to make simultaneous progress on paying down debt while saving for the future. Our industry-leading platform is distributed by many of the largest financial services companies in the world, enabling us to reach one-in-five American workers where they work, bank, and experience financial solutions,” said Laurel Taylor, Founder and CEO of Candidly. “On behalf of the Candidly team, I am honored to accept this award from FinTech Breakthrough.”
Candidly is coming off of a year of record growth in which the company saw a 10x increase in revenue and a 3600% increase in payments flowing through the platform. Candidly also recently announced its Series B round of financing, in which it raised $20.5 million. Candidly’s distribution partners include Guild, Empower, Lincoln Financial Group, UBS, Fiserv, and Vanguard, positioning Candidly to serve over 35M Americans.
“A recent survey found that eight in 10 professionals say student debt is a significant source of stress, translating to disengaged employees who are more likely to churn in search of greater financial stability,” said James Johnson, Managing Director, FinTech Breakthrough. “Candidly breaks through to deliver meaningful value to employers and employees alike with the industry’s most advanced student loan benefit solution. By partnering with leading employers, financial institutions, and more, Candidly offers solutions for every user — whether planning for college or repaying student debt. Congratulations to the Candidly team for taking home our ‘Best Student Loan Management Platform’ award for 2023.”
FinTech Breakthrough is an independent market intelligence organization that recognizes the top companies, technologies, and products in the global FinTech market today. The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2023 FinTech Breakthrough Award program attracted more than 4,000 nominations from across the globe.
Candidly, formerly FutureFuel.io, is an AI-driven student debt and savings optimization platform that addresses the full lifecycle of education expenses and empowers people to make simultaneous progress on paying down student debt and building wealth. Candidly partners with leading employers, and financial services companies serving the workplace like 401(k) and 403(b) record keepers, financial institutions, retirement plan advisors, and more, to embed its experience anywhere a user works, banks, or experiences financial services.
Candidly is backed by leading venture capital and strategic investors including Altos Ventures, Breton Capital, Cercano Management, Impact Engine, Rethink Impact, Salesforce Ventures, Silicon Valley Bank, UBS, and Unum. For more information, visit www.getcandidly.com.