Student fintech startup EDURain just signed two property management groups, and brought online a new service to help out international students — both of which mean revenue for the startup.
“Chisel Management and Evolve” property management own off-campus housing well suited for Washington University and Webster students, EDURain CEO Bryon Pierson jr. told bizblip. “They’re paying us per student that moves in and working with us as a vendor for helping students find off-campus housing.”
The startup also partnered with a provider to help international students who don’t have a co-signer in the U.S. for housing.
“The student pays $10 a month to be part of the program,” “We take a monthly residual on that and get lead-gen with the partner we’re connecting.”
The company initially attempted to put together bridge loans for incoming students to allow them to pay for a deposit for off-campus housing, which is less expensive. Pierson pivoted to a business model connecting landlords with incoming students in early 2022 and got traction (and revenue) right away.
EDURain was founded in Nov. 2017, is headquartered in St. Louis, MO, with Pierson and co-founders Aaron Zheng and Adam Knox-Warshaw being the only three full time employees. They has assembled a team of 15 part time contractors and interns. Pierson says they’ve raised $155,000 from a variety of sources, including FF&F. EDURain participated in, or has been helped by, the Skandalaris Center, St. Louis Regional Chamber, Impact Ventures, Balsa Foundation, ITEN, Olin School of Business, I-Corps., SLU Research, Spark! and Maryville University.
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