KeyBank Acquires Student Loan-focused Fintech Company

KeyBank, a Cleveland-based bank and financial services company with branches throughout southeast Michigan, announced it has acquired GradFin, a Public Service Loan Forgiveness counseling provider based in Philadelphia. Terms of the transaction were not disclosed.
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KeyBank has acquired Gradfin to provide student loan counseling services through a fintech platform. // Stock Photo
KeyBank has acquired Gradfin to provide student loan counseling services through a fintech platform. // Stock Photo

KeyBank, a Cleveland-based bank and financial services company with branches throughout southeast Michigan, announced it has acquired GradFin, a Public Service Loan Forgiveness counseling provider based in Philadelphia. Terms of the transaction were not disclosed.

GradFin offers high-touch advisory solutions for individuals seeking assistance with student loan debt. GradFin experts provide one-stop-shopping for borrowers seeking debt solutions, with a particular focus on working with financial advisors and their clients.

“We’re excited to become part of the Key team because of their exceptional track record in acquiring and growing fintech companies,” says Chris Walters, CEO of GradFin. “We could not have asked for a better partner to help us launch into our next phase, continuing on our mission of bringing our loan education programs and market aggregation to financial advisors and their clients.”

Walters will continue to lead the GradFin team following the acquisition. Key says its acquisition of GradFin is the organization’s next step in providing digital innovation at scale through strategic partnerships with fintechs.

“GradFin combines the best of digital and human interaction to create a unique client experience,” says Jamie Warder, head of digital, at KeyCorp, the bank’s parent company. “Advisors thoroughly understand the economic environment as well as the specific needs of healthcare providers, while the digital platform provides fast and effective solutions for debt relief and government forgiveness programs.”

KeyBank has its main Michigan office in Southfield, and operates 18 branches in the state.

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