FutureFuel.io, a tech startup founded by a female Fintech CEO, raises $10 million Series A1 funding led by UBS to end student loan debt

FutureFuel is a New York-based FinTech startup that works with employers, financial institutions, and universities to deploy digital solutions to help students pay down their student loan debt. Today, FutureFuel announced it has closed a $10 million Series A1 round to accelerate product adoption across employers, recordkeepers, and financial services partners as demand continues to surge.

The round, which brings FutureFuel’s total Series A funding to $21.6M, was led by UBS with participation from established financial services entities like Fiserv, Aflac Ventures, and Salesforce Ventures, and other existing investors. The new fund not only underscores investors’ confidence in the company’s direction but also shows FutureFuel.io’s proven ability to securely and effectively scale student debt solutions across tens of thousands of employers, corporate customers and millions of users.

FutureFuel was founded in 2015 by CEO and Founder Laurel Taylor. FutureFuel.io is a platform that supports America’s 45 million borrowers in paying off their student debt as quickly and efficiently as possible. Her personal struggle to overcome student debt drove her to create a solution for the nearly 45 million Americans burdened by it.

Unlike other companies that help with student loan debt, FutureFuel’s technology platform addresses the full spectrum of student debt management and repayment needs. FutureFuel has also shown proven results that users finish repaying loans half a decade faster (on average) saving between $15,000 and $40,000.

“As a B2B2C FinTech provider that exists to crush student debt, we are incredibly excited to announce the confidence and trust that some of the largest and most discerning financial services companies in the world have placed in FutureFuel.io,” said Laurel Taylor, CEO and Founder of FutureFuel.io. “Our newest institutional investors are enthusiastically partnering with FutureFuel.io, as both financial investors and commercial partners, due to our proven ability to securely and effectively scale student debt solutions across tens of thousands of employers, corporate customers, and millions of users.”

The platform’s flexibility in integration options, scalability, user experience, and security has attracted partnerships with global corporate leaders like UBS, which recently announced an exclusive commercial collaboration with FutureFuel.io to provide student debt solutions to the firm’s corporate clients and their respective employees.

“Delivering a best-in-class client experience is core to our strategy and we know that this investment in FutureFuel.io will provide our Workplace Wealth Solutions clients with more creative and innovative financial wellness options,” said Tom Naratil, President Americas, UBS, and Co-President UBS Global Wealth Management. “We are committed to helping companies create a more rewarding workplace by addressing one of the biggest financial challenges American employees face today – student loan debt.”

The funding from this round will be used to accelerate product adoption across employers, recordkeepers, and financial services partners as demand continues to surge. While 71% of companies offer some form of tuition reimbursement, the recently-passed Consolidated Appropriations Act allows workplaces to expand the use of this heavily underutilized budget, introducing tax-free treatment of employer student debt repayment up to $5,250 annually.