Peanut Butter

What Peanut Butter does

Peanut Butter Inc. is a Chicago-headquartered, privately-held SaaS company founded in 2015 by David Aronson that enables employers to offer student loan assistance as an employee benefit. The platform operationalizes tax-free employer contributions to employee student loans under Section 127 of the Internal Revenue Code (made permanently permissible via the CARES Act in 2020), and bundles contribution processing, employee enrollment, loan servicer verification, payment disbursement, and impact reporting into a single cloud-based system. Its three-tier product architecture consists of (1) Student Loan Repayment — the flagship subscription that administers employer dollar contributions, (2) Student Loan Resources — a financial-wellness suite including a Loan Management Dashboard, curated advice library, and Pay-down Visualizer, and (3) Student Loan Refinancing — a marketplace integrating 20+ national and community lenders (SoFi, Citizens, PenFed, College Ave, etc.) where employees can obtain rate quotes without a hard credit pull and access a $200 refinance rebate. Supporting modules include an Employer Control Panel, Contribution Tracking, Communications Toolkit, HR Support, Impact Reporting, Digital Enrollment with U.S.-based phone support, and a Community-based variant configured for municipal economic-development programs.

The company monetizes primarily through annual B2B subscriptions — a $2,500/year base fee plus $5/month per participating employee for the full repayment product, with tiered pricing by company size for the resources-only product and a freemium model for the refinancing marketplace. Distribution is led by a deep benefits-broker and HCM partner network that includes HUB International, NFP, Aflac, OneDigital, USI, Lockton, Marsh & McLennan Agency, Arthur J. Gallagher, TriNet, PeopleStrategy, and ADP Marketplace integration; this is supplemented by direct enterprise sales targeting HR/benefits executives, on-demand webinars, and content marketing. Customers span financial services, healthcare, technology, professional services, education, construction, and banking, including Calabrio, Medix, Instacart, Adtalem Global Education, Pepper Construction, ProService Hawaii, and three financial institutions (Sunrise Banks, Mechanics Bank, Alabama Credit Union). Total disclosed venture funding to date is approximately $2.2M across three seed rounds (2016 G2T3V, 2017 Revolution's Rise of the Rest, 2019 43North), making this a bootstrapped-feeling, capital-efficient operating profile.

Name

Peanut Butter

Legal name

Peanut Butter Inc.

Website

https://getpeanutbutter.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Peanut Butter is a Chicago-based SaaS platform that helps employers offer student loan assistance as a tax-free employee benefit under Section 127, combining employer contribution processing, a loan management dashboard, and a 20+ lender refinancing marketplace.

Ownership category

akta.pro rank

Product category

Employee Benefits Administration Software

NAICS

Credit Intermediation and Related Activities (522), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Loan Brokers (6163)

akta.pro primary industry

Scholarships, Grants & Education Benefits Administration (Financing-adjacent) (FSAKAEAM)

akta.pro secondary industry

Financial Hardship & Forbearance Assistance (FSAEAFAJ)

Keywords

• Student loan assistance
• Employee benefits platform
• Employer loan contributions
• Financial wellness software
• Loan refinancing marketplace

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Student Loan Repayment Subscription: Annual subscription model with base fee plus per-participant monthly charges. Employers pay $2,500/year base fee plus $5/month per participating employee. Includes full platform access with contribution payments, verification, and reporting.
2. Student Loan Resources Subscription: Tiered annual subscription based on employee count. Includes loan management dashboard, financial wellness tools, refinancing marketplace access, and HR support tools.
3. Refinancing Marketplace (Free): Free platform for employees to access refinancing options through 20+ lenders. Revenue is not generated directly from this service but drives engagement and retention for employer clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Peanut Butter provides a cloud-based Student Loan Assistance platform that enables employers to make tax-free contributions toward employees' existing student loan balances under Section 127 of the Internal Revenue Code, supplemented by an employee-facing Loan Management Dashboard and a Refinancing Marketplace connecting employees with 20+ national and community lenders. The platform combines direct employer contribution administration (contribution tracking, loan verification, payment processing to loan servicers), financial wellness tools (curated advice, debt counseling, pay-down scenario modeling), and a refinancing marketplace with soft-credit quote capabilities, sold as subscription licenses to employer clients and distributed through benefits brokers and direct enterprise sales.

Product overview

Peanut Butter offers a three-tier product architecture centered on student loan assistance as an employer-sponsored benefit. The core offerings are Student Loan Repayment (direct employer contributions toward employee student loans with an administrative platform), Student Loan Resources (a financial wellness suite including a loan management dashboard, refinancing marketplace, curated advice, and debt counseling), and Student Loan Refinancing (a marketplace connecting employees with 20+ lenders). Supporting feature modules include a Loan Management Dashboard, Financial Wellness Tools, Contribution Tracking, Pay-down Visualizer, Curated Advice & Insights, an Employer Control Panel, Communications Toolkit, HR Support, Impact Reporting, Customer Success Manager, Explanation of Benefits, Digital Enrollment & Phone Support, Documentation tools, a $200 Refinancing Rebate, and a Community-based variant for municipalities. The platform is designed to help employers attract, retain, and engage college-educated talent by addressing the student debt crisis.

Differentiator

Problem solved

Functional benefit

Products and services

• Student Loan Repayment Employer-sponsored benefit enabling companies to make direct monetary contributions toward employees' existing student loan balances, helping attract, retain, and engage college-educated talent. Includes contribution tracking, a pay-down visualizer, an employer control panel, and HR support.
• Student Loan Resources Financial wellness platform providing employees with tools to understand and manage their student debt, including a loan management dashboard, curated advice and insights, refinancing marketplace access, and debt counseling options. Sold as a tiered annual subscription based on company size.
• Student Loan Refinancing Marketplace connecting employees with over 20 national and community lenders to refinance existing student loans at potentially lower interest rates. Employees can receive rate quotes without a hard credit pull and access a refinancing projection tool, with an optional $200 rebate for refinancing.
• Community-based Student Loan Assistance Program variant designed for counties, cities, and municipalities to attract college-educated residents and workers to rural and suburban communities through student loan assistance as an economic development incentive. Clinton County, Iowa is referenced as a pioneering pilot.

Quantifiable outcome

• Employee tenure increases by 36% when employers offer student loan assistance
• +5 more outcomes

Named customers13 records

Segments8 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core, major and flagship.

• HUB InternationalcoreChannel Partner/ Reseller/ DistributorMajor benefits broker partnership where HUB International recommends Peanut Butter's Student Loan Assistance to their employer clients. HUB International logo appears on partner page with dedicated client welcome messaging.
• NFPcoreChannel Partner/ Reseller/ DistributorNFP, a benefits broker, recommends Peanut Butter to their client employers. Logo featured on partner page with dedicated client welcome messaging.
• AflaccoreChannel Partner/ Reseller/ DistributorAflac integrates or recommends Peanut Butter's Student Loan Assistance as part of their benefits offerings to employer clients. Aflac logo appears on partner page.
• LifeWorksmajorChannel Partner/ Reseller/ DistributorLifeWorks (now Personify) offers Peanut Butter as part of their benefits ecosystem. LifeWorks logo appears on partner page.
• OneDigitalmajorChannel Partner/ Reseller/ DistributorOneDigital, a leading benefits brokerage, recommends Peanut Butter to their employer clients. Logo featured on partner page.
• USImajorChannel Partner/ Reseller/ DistributorUSI Insurance Services recommends Peanut Butter as part of their benefits consulting offerings. Logo appears on partner page.
• LocktonmajorChannel Partner/ Reseller/ DistributorLockton, an independent insurance broker, recommends Peanut Butter to their employer clients. Logo appears on partner page.
• Marsh & McLennan AgencymajorChannel Partner/ Reseller/ DistributorMarsh & McLennan Agency recommends Peanut Butter's Student Loan Assistance to their clients. Logo featured on partner page.
• Arthur J. GallaghermajorChannel Partner/ Reseller/ DistributorArthur J. Gallagher (Gallagher Benefit Services) recommends Peanut Butter to their employer clients. Logo appears on partner page.
• Clinton County, IowaflagshipStrategic or Co-development PartnerPeanut Butter administers a pioneering community-based student loan assistance program for Clinton County, Iowa to attract college-educated residents and workers to the rural community. County Auditor Eric VanDecker noted the program aims to reverse population decline and benefit the tax base.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• SoFi: Large, publicly traded fintech whose student loan refinancing marketplace and employer benefits offering (SoFi at Work) directly overlap Peanut Butter's refinancing marketplace and benefit-administration positioning. Far broader product suite but meaningful overlap on the employer student loan benefit and refinance comparison use cases.
• CommonBond: Student loan lender and refinancer; competes with Peanut Butter's refinancing marketplace and offers employer benefits partnerships. Broader fintech but the loan products directly overlap the marketplace's lender set.

Direct peers

• Goodly: Direct competitor offering employer-sponsored student loan repayment and financial wellness benefits. Both companies enable HR teams to administer tax-free Section 127 contributions and compete for the same employer and broker channel sales motion.
• Tuition.io: Direct competitor in employer student loan repayment benefits, with a similar platform for administering contributions, refinancing tools, and employee financial wellness. Competes for the same HR-tech and benefits broker wallet.
• FutureFuel.io: Direct competitor providing employer student loan repayment and student debt financial wellness programs. Similar three-pillar product (repayment, resources, refinancing) and overlapping benefits broker and employer sales motion.
• GradFin: Direct competitor offering employer student loan repayment and refinancing benefits. Targets the same employer and broker channels with comparable value-prop around tax-free Section 127 contributions and employee retention.

Emerging players

• Earnest: Student loan refinancing lender featured in many refinancing marketplaces. Competes for the same employees within Peanut Butter's marketplace flows and could pursue direct employer benefit partnerships over time.
• College Ave: Student loan refinancer already in Peanut Butter's marketplace. Competes on rate and terms for employees refinancing via Peanut Butter and could evolve into a competing benefit-administration offering.
• Credible: Loan comparison marketplace similar in concept to Peanut Butter's Refinancing Marketplace (multi-lender quote flow without hard credit pull). An adjacent marketplace that competes for the same refinancing traffic.
• Mosaic by LifeWorks (TELUS Health): Employee wellness and financial benefit platform that bundles student loan repayment alongside other benefits. Competes in HR-suite procurement where employers prefer a single platform versus a point solution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/peanutbutterget
• Facebookfacebook.com/getpeanutbutter
• LinkedInlinkedin.com/company/peanut-butter-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Peanut Butter