JPMorgan Chase has acquired college planning platform Frank to deepen relationships with students and their parents, CNBC has learned exclusively.
Frank is an online portal with tools that help students apply for and negotiate financial aid, enroll in online courses and find scholarships. It has served more than five million students at 6,000 institutions since it was launched by Charlie Javice in 2017.
JPMorgan, the biggest U.S. bank by assets, has been acquiring start-ups at a steady clip since CEO Jamie Dimon declared last year that he would be “much more aggressive” in searching for takeovers. The firm has acquired a string of fintech players to bolt-on capabilities in sustainable investing, robo-advising and constructing tax-efficient portfolios.
But in some ways this deal most resembles another recent acquisition made by JPMorgan, that of restaurant review service The Infatuation. With both transactions, the company is diving deeper into a vertical in the hopes of generating loyalty with a specific cohort.
Continue reading JPMorgan Chase is buying college financial aid platform Frank on CNBC
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