Pay4Education Raises $575K in Pre-Seed Funding to Launch College-Cost Platform

PAY DAY: Pay4Education, a Springfield, Mass.-based provider of college costs and financing information, has raised $575,000 in a pre-seed round led by MassMutual’s Springfield Venture Fund. Alchemy Group and several angel investors participated.

Set to launch in early July, Pay4Education aims to provide four years of cost information to users and help determine monthly affordability. The company plans to use the money toward product development and marketing, according to a statement earlier this month. Several colleges are piloting the tool with first-year students.

MassMutual Ventures previously invested in Tuition.io.