Credible, which offers an online exchange for student and personal loans, raised $10 million from investors including Ron Suber, the president of Prosper Marketplace Inc., and Regal Funds Management to expand its business of matching borrowers with lenders.
The Series B funding round was led by Regal, and included existing investor Carthona Capital, Credible founder and Chief Executive Officer Stephen Dash said this week in an interview. The firm’s Series A round was for $10 million and much of it is still in the bank, Dash said.
San Francisco-based Credible works with student loans much like Kayak.com does for airline fares, acting as a marketplace for borrowers to compare available interest rates. The closely held firm works with credit bureaus and lenders such as financial-technology startups or banks to provide a personalized rate, Dash said.
“We have effectively created a pricing system that is accurate, because we are getting the data…