People Capital Raises $500,000 In Series B Financing
New York, July 21, 2009, People Capital, a Web resource for college students to obtain student loans via
an online lending exchange, announced that it has closed a $500,000 round of Series B funding. The Serious Change
fund, helmed by investor Josh Mailman, led the round of financing.
People Capital will use the funding to accelerate technological development of its peer-to-peer lending platform
which will offer a unique solution for students to finance their college educations. This platform is poised to
provide funding for students in the fall 2009-10 academic year.
"We are delighted to welcome Serious Change as our new financial partner," said Tom Shelton, CEO of People C
apital. "With this financial commitment, we will continue to develop our proprietary lending technology which,
when launched, will help students receive more favorable private student loans for higher education needs."
"Although peer-to-peer lending technology is not new, we had been looking for a company that could bring
the technology to the next level, one that offers a responsible alternative to students wishing to take out
loans for college," said Josh Mailman, head of Serious Change. "After extensive research, seeing the technology
in action, and meeting company executives in person, we became convinced that People Capital presents by far the
most exciting opportunity of companies in the peer-to-peer lending space.
About People Capital
People Capital (http://www.people2capital.com) was founded in 2008 by a team
of world-class talent with backgrounds in student loans, consumer finance, credit ratings and new media to develop the next
generation of credit risk management and funding for student loans. Our peer-to-peer (p2p) lending platform will allow students
to finance their college educations through improved access to private student loans. Our patent-pending Human Capital Score™
(http://www.humancapitalscore.com) can rank order students without
credit history by using academic and credit data to model future individual income levels, thus their future ability to pay.
Back to top