We launched Profiles, a brand new way to apply for funding
Last week, we rolled out a brand new way to apply for funding.
Profiles is a way for students to share more about themselves and for investors to get a better picture of who the students are.
For students, Profiles lets them share more about all they’ve accomplished so far, and their aspirations for the future, through bios, short-answer questions, profile pictures, and more.
With the upcoming launch of Marketplace, investors will be able to view student Profiles, invest in individual students to build their own portfolio, and share Profiles with their community to help students reach their goal. ISAs are about investing in people, and just like you’d look at the numbers for a stock, investors in ISAs should be able to view profiles of the people they’re investing in.
Profiles represents another step forward towards building a marketplace for human potential. With more focus on individuals, investors will soon be able to provide mentorship, career advice, and job referrals to increase their potential upside.
For students looking to apply for funding, getting started is easy:
- They start by telling us about their background. Instead of a traditional credit score, we evaluate their student profile, using data like their GPA and field of study and set terms that are unique to them.
- If their application is approved, we’ll list their profile to investors on Avenify who are eager to invest in students like them.
- If they hit 70% or more of their goal, we’ll disburse funding directly to their bank account. They can use the funds for whatever they'd like.
- They'll start making payments six months after they leave school and get a job making over $20,000. Payments are entirely income based and designed to always be affordable.
We've seen great traction on the student side so far and are ramping up marketing efforts to grow it even more. Students can sign up and apply for funding today.
As for investors, Marketplace is coming soon! To be notified when we launch individual investments and Profiles for investors, sign up and we’ll keep you in the loop.
We can’t wait to hear what you think!