Iowa City-based College Raptor, a college planning platform that matches prospective students to schools based on academic and financial fit, was acquired by Citizens Financial Group Sept. 13.
The transaction is expected to close in the fourth quarter of 2022. College Raptor will operate as a wholly-owned subsidiary of Citizens Financial Group. Terms of the deal were not disclosed.
“College Raptor’s mission is to empower students and their families as they plan their college journey, and this combination will deepen our capabilities while connecting users with a best-in-class financial partner,” said Bill Staib, CEO and co-founder of College Raptor, in a statement.
Citizens Financial Group, headquartered in Providence, Rhode Island, offers retail and commercial banking products to individuals, small businesses and corporations. According to the release, the acquisition will further the company’s efforts to provide educational resources so individuals can make informed financial decisions.
“The acquisition offers unique opportunities to engage with prospective college students and their families as they navigate the college search and selection process,” said Citizens EVP and Head of Student Lending Chris Ebeling.
Right now, users can compare colleges through side-by-side comparisons of estimated aid packages, as well as campus match scores and admission chances. Prospective students can also create college savings plans, research careers and find student loans.
Pugh Hagan Prahm PLC, a law firm located in Coralville, served as legal advisor to College Raptor.
