LendingTree buys Austin’s Student Loan Hero

Financial services company LendingTree said Friday that it has acquired Austin-based Student Loan Hero Inc., a personal finance website for managing student debt.

LendingTree, headquartered in Charlotte, N.C., connects users with lenders. The company will acquire Student Loan Hero, which offers tools, resources and advice for those paying off student debts, for $60 million.

LendingTree CEO Doug Lebda said the move will allow the company to quickly expand its student loan business. According to a news release, the company has facilitated more than 65 million loan requests.

“On top of that, LendingTree and Student Loan Hero share a common goal of providing consumers with the tools and resources to better understand their personal finances and make smarter financial decisions,” Lebda said in a written statement.

Andy Josuweit, who had more than $100,000 in student loans, founded Student Loan Hero in 2012. The company has four employees based in Austin.

“We are incredibly excited to join the LendingTree team,” Josuweit said in a written statement. “Given LendingTree’s emphasis on consumer empowerment and transparency, we feel confident that this is the right platform for Student Loan Hero to engage more consumers and help them reach their financial goals.”

Student Loan Hero has helped more than 200,000 borrowers manage and eliminate over $3.5 billion in student loan debt since 2012, according to a news release