# Backer: Financial services, San Francisco, United States

> Backer: Backer is a fintech company based in San Francisco, California, that focuses on modernizing 529 college savings plans through a digital platform.

Source: https://millionrounds.com/startup/backer (Millionrounds; every figure on the page links to its filing or article)

United States · [Financial services startup](https://millionrounds.com/companies)

# Backer

Backer is a fintech company based in San Francisco, California, that focuses on modernizing 529 college savings plans through a digital platform.

Funding reported Last round: Series A

Financial services San Francisco, United States

Company summary

- **Founded:** 2015 11 years old
- **Team:** 29 11 to 50 people
- **Funding reported:** $18M in dollars
- **Last round:** Series A Dec 2023

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Backer has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Backer

Backer is a fintech company based in San Francisco, California, that focuses on modernizing 529 college savings plans through a digital platform.

Founded in 2016, Backer helps families set up, manage, and contribute to 529 education savings plans, making the process easier and more collaborative. The platform allows contributions from family and friends, not just the account owner, promoting a community approach to saving for education. Backer’s services support saving for various qualified education expenses, including college tuition, K-12 tuition, and other education-related costs. The company targets individuals and families, particularly parents and guardians planning for their children's future education. Backer has raised approximately $17.98 million in funding and is currently at the Series A stage.

## What company datasets say Backer raised

Funding, as reported

Reported in all **$18M** in dollars

Rounds **1**

Last round **Series A**

Last round size **$9.5M**

Last round date **Dec 2023**

Investors listed **5**

## Founders and team

From Backer's own website: 1 founder, 2 on the team.

**Jordan Lee** Founder & CEO

- **Mathieu Lajugie** Head of Engineering
- **Scott Morrison** Head of Product

## On 3 portfolio pages

Investors who name them

- [Ulu Ventures](https://millionrounds.com/fund/ulu-ventures)
- [Crosslink Capital](https://millionrounds.com/fund/crosslink-capital)
- [Expansion Venture Capital](https://millionrounds.com/fund/expansion-venture-capital)

Each firm lists Backer on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

student loans repayment consumers financial support gift tax exemption backer engagement tuition lock plans savings goals custom gifting pages child's education fund education information technology & services financial services finance college savings personal finance fee transparency

Built with from their website

CloudFlare CDN Google Tag Manager Visual Website Optimizer Ahrefs Amazon CloudFront Twilio SendGrid Email Marketing Campaigns React Google Font API HSTS PWA

+8 more

AWS Cloud Cloudflare Bot Management Font Awesome MailChimp Cloudflare DNS Google Workspace CloudFlare PHP

- **Sector:** Financial services
- **Industry code:** NAICS 523940, SIC 6289
- **Region:** California
- **Revenue:** $2.1M a year, as listed

## Financial services in United States

Startups like it

- [**Kalshi** New York · founded 2019 *Raised*](https://millionrounds.com/company/kalshi)
- [**Temporal** founded 2022 *Raised*](https://millionrounds.com/company/temporal)
- [**Vestwell** New York · founded 2016 *Raised*](https://millionrounds.com/company/vestwell)
- [**C2FO** Kansas City · founded 2008 *Raised*](https://millionrounds.com/company/c2fo)
- [**Yieldstreet** New York · founded 2015 *Raised*](https://millionrounds.com/company/yieldstreet)
- [**Flutterwave** San Francisco · founded 2016 *Raised*](https://millionrounds.com/company/flutterwave)
- [**Corgi** San Francisco · founded 2024 *Raised*](https://millionrounds.com/company/corgi)
- [**Alpaca** San Mateo · founded 2017 *Raised*](https://millionrounds.com/company/alpaca)

## Is this your company?

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