Meritize
Meritize is a Frisco, Texas-based fintech that provides private student loans for skills-based education through a proprietary credit model incorporating academic and military achievements. It serves students, 1,000+ partner schools, and employers across healthcare, aviation, IT, and industrial trades.
- Company typePrivate
- Founded2016
- HeadquartersFrisco, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Meritize does
Meritize is a Frisco, Texas-based financial technology company founded in 2016 that provides private student loans for skills-based education and workforce training programs. Its core product is the Meritize Score, a proprietary credit evaluation methodology that augments traditional credit data with non-traditional merit inputs such as academic transcripts, military service records, and career achievements, enabling lending to borrowers whose credit profiles would otherwise be insufficient under FICO-only underwriting.
The company distributes through partnerships with over 1,000 educational institutions offering programs in healthcare, medical technology, aviation, information technology, industrial trades, and professional services. Students apply directly via meritize.com and can receive pre-approval in minutes through a soft credit pull. Loans are made and funded by partner banks, with Meritize acting as originator and facilitator; MOHELA, one of the largest U.S. student loan servicers, handles loan servicing under a partnership. Meritize supplements lending with free Career Services for borrowers (job search bootcamp and new-to-job coaching) and a separate employer-facing Meritize Hiring Solutions product offering on-demand recruiting, outsourced training, and working-interview placements to address skilled-labor gaps.
Revenue is generated primarily through interest on educational loans and loan-servicing economics, supported by ancillary employer-side hiring-solutions revenue. The company is regulated through Meritize Lending, LLC (NMLS ID 1661035) and Meritize Financial, Inc. (NMLS ID 1986399), with consumer lending licenses across 29 U.S. states and an explicit exclusion of Maine, Vermont, and Puerto Rico. Equity funding includes a 2018 Series 1 of $6.8 million, a 2018 Series 2 of $13.2 million, and a June 2022 impact investment from Aegon Asset Management's impact investment arm.
Meritize firmographics
Firmographics- Name
- Meritize
- Legal name
- Meritize Financial, Inc.
- Website
- https://meritize.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Meritize is a Frisco, Texas-based fintech that provides private student loans for skills-based education through a proprietary credit model incorporating academic and military achievements. It serves students, 1,000+ partner schools, and employers across healthcare, aviation, IT, and industrial trades.
- Ownership category
- akta.pro rank
Meritize industry classification
Industry- Product category
- Private Student Lending for Skills-Based Education
- NAICS
- Educational Services (611)
- SIC
- Personal Credit Institutions (6141), Loan Brokers (6163)
- akta.pro primary industry
- Private Student Loans (Undergraduate & Graduate) (FSAKAEAB)
- akta.pro secondary industry
- Continuing Education & Professional Certification Financing (FSAKAEAJ)
Keywords
Where Meritize is headquartered
LocationHeadquarters
- HQ city
- Frisco
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Meritize business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Educational Loan Interest: Meritize earns revenue through interest charged on educational loans provided to students pursuing skills-based training programs. Loans are made and funded by partner banks, with Meritize acting as a service provider facilitating the loan application process and credit evaluation using their proprietary Meritize Score.
- Loan Servicing: Meritize partners with MOHELA for loan servicing, managing borrower accounts, payment processing, and customer service for existing loans.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Flexible repayment options including fully deferred, interest-only, and full in-school payments |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Meritize product offering
Product offeringCore offering
Meritize provides private student loans for skills-based education programs in healthcare, aviation, information technology, industrial trades, and professional services. Loans are underwritten using the proprietary Meritize Score, which evaluates academic transcripts, military service records, and career achievements alongside traditional credit data, enabling lending to students who are excluded by FICO-only models. The company also offers Career Services (job-search coaching) for borrowers, Meritize Connect (a training-program discovery portal), and Meritize Hiring Solutions (recruiting and training programs for employers seeking skilled workers).
Product overview
Meritize is a student lending platform that provides private loans for skills-based education programs. The core offering consists of the Meritize Score proprietary credit evaluation system, which evaluates students based on academic and military achievements in addition to traditional credit data. The platform includes Meritize Student Loans for funding vocational and career training programs, paired with free Career Services (job search bootcamp and new-to-the-job coaching) for borrowers. For employers, Meritize offers Hiring Solutions providing on-demand and outsourced recruiting and training services. Meritize Connect serves as a training program discovery portal connecting students with eligible schools.
Differentiator
Problem solved
Functional benefit
Brands
- Meritize Connect: Platform for finding training programs in areas such as Healthcare, Manufacturing, and Infrastructure
- Meritize Hiring Solutions
- Meritize Score
Products and services
- Meritize Student Loans Private student loans that finance skills-based education and career training in healthcare, medical technology, aviation, information technology, industrial, and professional services. Loans are underwritten using the proprietary Meritize Score (academic, military, and credit evaluation) and can cover up to full tuition and, in some cases, cost of living. Available to U.S. citizens, permanent residents, and EAD holders who meet underwriting requirements, with fully deferred, interest-only, or full in-school repayment options.
- Meritize Connect Online portal for finding training programs in skills-based careers across healthcare, technology, aviation, and industrial sectors, including average salary and job outlook data, and direct links to participating Meritize partner schools.
- Meritize Hiring Solutions On-demand recruiting and training solutions for employers seeking skilled workers in welding, healthcare, aviation maintenance, information technology, diesel repair, and industrial trades. Includes outsourced recruiting and training programs and working-interview placements with no upfront cost and no permanent employment obligation until a match is confirmed.
Quantifiable outcome
- More than 30 million U.S. jobs pay an average of $55,000 a year and do not require a bachelor's degree
- +3 more outcomes
Companies that use Meritize
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
Meritize technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Meritize partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- MOHELAcoreMOHELA is Meritize's loan servicing partner, handling billing, payment processing, and customer service for all Meritize borrowers. MOHELA is one of the 10 largest student loan servicers in the nation with more than 30 years of experience.
- Meritize Partner SchoolscoreOver 1,000 schools offering skills-based education programs in healthcare, medical technology, aviation, information technology, industrial, and professional services trust Meritize for student loan funding. These school partners promote Meritize financing options to prospective students and provide access to training programs.
- Employer PartnerscoreCompanies partner with Meritize to access pre-trained talent through working interview programs. Employers benefit from no upfront costs, no permanent employment obligations, and limited risk of turnover and workers' compensation issues. Meritize funds recruitment, vetting, and training upfront.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Meritize competitors and assessment
Company assessmentDirect peers
- Climb Credit: Climb Credit provides loans specifically for skills-based and bootcamp education in trades, healthcare, and technology — the closest direct competitor to Meritize's niche, with similar underwriting for non-traditional borrowers.
- Ascent Funding: Ascent offers private student loans with non-traditional underwriting criteria (including outcomes-based loans without a co-signer), competing head-to-head with Meritize for skills-training borrowers.
- College Ave Student Loans: College Ave is a private student loan provider covering undergraduate, graduate, and career/trade-school programs, directly overlapping Meritize's target borrower and product set.
- Earnest: Earnest pioneered alternative-data underwriting in student loan refinancing and private lending, sharing Meritize's philosophy of using non-FICO data to price credit for educated borrowers.
Emerging players
- Funding U: Funding U provides income-share agreements and alternative financing for non-degree, career-focused programs, intersecting Meritize's skills-based borrower segment through a different repayment instrument.
- Prodigy Finance: Prodigy Finance uses alternative-data underwriting for international graduate-student loans, sharing Meritize's philosophy of looking beyond FICO, though focused on a different borrower geography.
Broad incumbents
- SoFi: SoFi is a broad consumer fintech that historically refinanced and originated student loans and now offers an array of lending and banking products, including private student loans that compete with Meritize.
- Nelnet: Nelnet is one of the largest U.S. student loan servicers and originators, with bank-partner lending programs comparable to Meritize's service-provider model though at vastly greater scale.
- ECMC: ECMC is a nonprofit education credit and loan-servicing organization — and an investor in Meritize — providing private student lending and portfolio services for similar borrower segments.
Others
- MOHELA: MOHELA is a top-10 U.S. student loan servicer and Meritize's loan-servicing partner; comparable as ecosystem infrastructure rather than a competitor, but operating in the same regulatory and capital markets stack.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Meritize social profiles
Digital presenceMeritize financial estimates
Financial estimateRevenue estimate
Valuation estimate
Meritize leadership team
Management profileNumber of profiles
Profiles5 records
Meritize funding detail
Funding detailFunding overview
Funding rounds3 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Meritize M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Meritize
What does Meritize do?
Meritize provides private student loans for skills-based education programs in healthcare, aviation, information technology, industrial trades, and professional services. Loans are underwritten using the proprietary Meritize Score, which evaluates academic transcripts, military service records, and career achievements alongside traditional credit data, enabling lending to students who are excluded by FICO-only models. The company also offers Career Services (job-search coaching) for borrowers, Meritize Connect (a training-program discovery portal), and Meritize Hiring Solutions (recruiting and training programs for employers seeking skilled workers).
Is Meritize a public or private company?
Meritize is a private company. It is classified as venture growth investor backed and is currently operating.
When was Meritize founded?
Meritize was founded in 2016. It employs 101 to 250 people.
Where is Meritize based?
Meritize is headquartered in Frisco, United States, in the North America region.
How does Meritize make money?
Two revenue lines are on record. Educational Loan Interest is the primary driver. The others are loan Servicing.
Who are Meritize's main competitors?
Direct peers on record are Climb Credit, Ascent Funding, College Ave Student Loans and Earnest. Emerging players are Funding U and Prodigy Finance. Broad incumbents are SoFi, Nelnet and ECMC. MOHELA is listed as an others.
Does Meritize have an API?
No public API is recorded for Meritize.
What industry is Meritize in?
Meritize's product category is Private Student Lending for Skills-Based Education. Its primary akta.pro industry code is FSAKAEAB, Private Student Loans (Undergraduate & Graduate), with a secondary code of FSAKAEAJ, Continuing Education & Professional Certification Financing. Its NAICS code is 611 and its SIC code is 6141.