In an exciting development in the fintech industry, Backer, an industry leader focusing on 529 Savings Plans, secured a $9.5M Series A financing round and announced its acquisition of Saving For College. This move is set to revolutionize how American families engage with 529 plans, transforming the financial landscape.
Backer Acquires Saving For College
Backer acquired Saving For College, a leading 529-related media property and educational savings resource. This platform has assisted millions of American families each year since 1999, helping with the challenging task of navigating 529 plan options. Backer aims to harness technology to optimize and modernize the interactions families have with 529 plans.
Future of 529 Plans with AI-Powered Tech
Backer, known for its innovative approach to savings plans, is stepping into a new era of AI-powered tech. The company plans to merge the highest-traffic web destination with the top product team in the industry. This powerful combination aims to redefine how American families discover, enroll in, and engage with 529 plans.
WndrCo Leads Backer’s Financing Round
WndrCo, a multi-stage technology investment firm, led Backer’s venture round. Behind the lead are massive industry names like Sujay Jaswa, an early Dropbox executive, and Hollywood legend Jeffrey Katzenberg. The partnership is projected to transform how families across the country save for education, focusing on enhancing financial literacy through high-quality educational content and intuitive consumer experiences.
In conclusion, Backer’s acquisition of Saving For College and its newly secured financing offer an intriguing insight into the future of 529 savings plans. With the use of AI-powered technology and strategic partners like WndrCo, Backer is poised to improve financial literacy in the United States, making educational savings a simpler and more attainable goal for millions of families.
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