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Bobby Matson

Founder at Payitoff

Bobby Matson is a University of Michigan grad obsessed with building better infrastructure for all student loan borrowers. Bobby led engineering teams at Carbon Five, where he built technology for Groupon, Fandango and Stitchfix and shipped software to millions of users.

After codifying student loans and building an algorithm to manage the crushing six-figure student debt he and his wife faced, Bobby founded Payitoff in 2018. The company offers a suite of innovative tools for financial services and workplace providers to help their customers navigate student loan repayments and achieve better financial outcomes.

To-date, Payitoff’s tools have saved student loan borrowers $10.6 million through partner companies, with much more on the horizon. Bobby is proud to lead Payitoff with the philosophy that what’s best for the borrower is always what’s best for business.

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BOOK NOW FOR your podcast

Bobby Matson

Founder at Payitoff

Bobby Matson is a University of Michigan grad obsessed with building better infrastructure for all student loan borrowers. Bobby led engineering teams at Carbon Five, where he built technology for Groupon, Fandango and Stitchfix and shipped software to millions of users.

After codifying student loans and building an algorithm to manage the crushing six-figure student debt he and his wife faced, Bobby founded Payitoff in 2018. The company offers a suite of innovative tools for financial services and workplace providers to help their customers navigate student loan repayments and achieve better financial outcomes.

To-date, Payitoff’s tools have saved student loan borrowers $10.6 million through partner companies, with much more on the horizon. Bobby is proud to lead Payitoff with the philosophy that what’s best for the borrower is always what’s best for business.

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As seen on

Payitoff automates student loan repayment for financial institutions, reducing defaults and saving, on average, $240 a month per borrower, says company founder and CEO Bobby Matson. The New York-based business-to-business solution provider connects borrowers to repayment and refinancing opportunities by offering banks a white-label product that they can embed into their existing architecture.

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Payitoff, the company building infrastructure to automate and optimize every aspect of debt management — starting with student loans — today announced the company has raised an $8.5M seed round, led by Lightspeed Venture Partners, with participation from Sound Ventures, Struck Capital and Social Leverage, as well as a number of angel investors. This new capital will help the company to meet the growing demand from financial services providers as they prepare for the resumption of student loan payments on February 1, 2022.

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“It’s safe to say we all recognize that student debt is a huge problem without an end in sight. While Payitoff can’t get rid of it either, it thinks it can do a good job of helping people manage their loans and see a light at the end of the tunnel.”

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Timeline

Sep 2017 - Present

Payitoff

CEO & Founder

 

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Sep 2017 - Present

Aug 2013 - Sep 2017

Carbon Five

Software Engineer & Technical Lead

carbonfive

Aug 2013 - Sep 2017

Jun 2012 - Jul 2013

Pose.com

Software Engineer

LOGO POSE

Jun 2012 - Jul 2013

Feb 2008 - Aug 2011

MyBandStock

Founder

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Feb 2008 - Aug 2011

Ask me

What's the number one obstacle facing student loan borrowers today?
How can businesses benefit from offering student loan management tools? Why should they?
How does Payitoff help businesses and borrowers navigate the uncertainty of student loan payments resuming in September 2022?
How does your personal background and experience as a student loan borrower affect your company?
What do you anticipate the resumption of student loan payments in September 2022 will look like?
How does Payitoff technology support best student loan outcomes?
How can we best empower borrowers to overcome their overwhelming loan situations?
Just how complex is the student loan industry?

Podcast agent: Nathan L

nathan@kitcaster.com