Marketplace Lending Platform for Income Share Agreements Avenify Raises Money on Republic

A new spin on solving the student loan enigma is crowdfunding on Republic.

Avenify is offering a Crowdsafe at a valuation cap of $4 million with a 20% discount triggered by a future event. Avenify has already raised $68,382 from over 300 investors. The company plans on raising up to $107,000. By using the Reg CF securities exemption  – anyone can invest.

Avenify is a “marketplace lending platform for Income Share Agreements (ISAs). An ISA can offset the cost of education by allowing investors to earn income by taking a portion of a student’s income for a fixed period of time. With traditional student loans, you are on the hook for a set amount, in a defined period, while paying interest. An ISA adjusts to how much the student is earning. Avenify explains that students can borrow up to $15,000 per semester and owe nothing back until they’re employed and making more than $20,000/year.

Regarding performance, Avenify reports that it is on track to reach 2500 student applications by the end of 2020 and the company predicts $100,000+ in revenue during the same year.

So still a startup but an interesting concept. There is a good discussion on the offering page. The Form C filing is available here.

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