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Fynanz Inc. closes 6.5M in Series A funding
MADISON, Wis. (2/10/10)--Fynanz, which provides private student lending services, has closed a $6.5 million Series A round in venture funds from a group of investors. The investors are led by Draper Fisher Jurvetson, and DFJ Gotham Ventures with participation from the Brazos Group, Zelkova Ventures and JBR Media Ventures. The financing follows a previous investment led by DFJ Gotham Ventures that included Brazos and Zelkova. Fynanz will use the funds for continued national expansion of www.cuStudentLoans.org, a credit union private student lending marketplace. Private student lending fills the gap left by federal programs that have pulled out of the lending market due to tightened credit. The private student loan market has grown by more than 500% over the past decade--to $22.8 billion in 2007-2008, Fynanz said.


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