Nelnet Acquires Finastra’s Canadian Student Loan Servicing Business

Nelnet Business Services Acquires Next Gen Web Solutions

April 14, 2025

Software

Nelnet Business Services, a division of Nelnet, Inc., has acquired Next Gen Web Solutions and will incorporate the company into its Nelnet Campus Commerce business line. Next Gen, headquartered in Jacksonville, Florida, provides software solutions for higher education—expanding Nelnet's product suite for form building, financial aid exception processing, verification, scholarship management, and work-study administrative support.

KeyBank Acquires GradFin

May 9, 2022

Payments & Fintech

KeyBank has acquired GradFin, a fintech specializing in Public Service Loan Forgiveness counseling and student loan advisory solutions. The acquisition expands KeyBank's digital and niche advisory capabilities, integrating GradFin's high-touch advisory offerings for individuals, financial advisors and employers into Key's product suite.

Carlyle and KKR Acquire Approximately $10.1 Billion Prime Student Loan Portfolio from Discover Financial Services

July 17, 2024

Financial Services

Global investment firms Carlyle and KKR have agreed to purchase an approximately $10.1 billion portfolio of prime student loans from Discover Financial Services. Carlyle's Monogram LLC will serve as portfolio manager and Firstmark Services (a Nelnet subsidiary) will service the loans; the transaction is expected to close by the end of 2024, subject to customary closing conditions.

Fiserv Acquires Remaining Ownership Interest in Finxact

February 7, 2022

Cloud & SaaS

Fiserv signed a definitive agreement to acquire the remaining ownership interest in Finxact for approximately $650 million, expanding its digital banking strategy. Finxact’s cloud-native, API-first banking technology is intended to help fintechs and financial institutions launch and modernize digital banking experiences more quickly.

NerdWallet Acquires College Finance Company LLC from Candidly

March 12, 2026

Data & Analytics

NerdWallet, Inc. acquired College Finance Company LLC, a private student loan marketplace operated as a subsidiary of Candidly. Mesirow served as Candidly’s exclusive financial advisor on the transaction.

Nelnet Acquires GRNE Solar (GRNE Solutions)

July 1, 2022

Renewable Energy

Nelnet acquired a majority stake in GRNE Solar (also known as GRNE Solutions), a Midwest-based solar design and installation firm operating in residential, commercial and utility-scale markets. The deal (announced July 2022) expands Nelnet’s renewable energy arm and brings GRNE’s regional EPC capabilities into Nelnet Renewable Energy; SEC/filing summaries indicate Nelnet acquired an 80% interest for approximately $29.7 million.