Yes, ChangEd is still in business despite a serious financial-infrastructure scare in 2024. The app, which rounds up purchases to automatically pay down debt, closed a real Shark Tank deal and has kept growing since.
What happened on Shark Tank
Founders Dan Stelmach and Nick Sky secured a deal with Mark Cuban on Season 9, Episode 20, for $250,000 for 25% equity.
What the company looks like now
ChangEd has grown from a two-person operation into a team of 11, and has broadened its focus from student loans specifically to helping users manage debt of all kinds. The app holds a 4.6 out of 5 rating across more than 4,200 iOS reviews, and the founders say they’ve helped users pay off more than $100 million in debt.
The 2024 scare
In 2024, Synapse, the fintech banking partner ChangEd relied on to facilitate transfers, filed for bankruptcy, freezing many users’ accounts in the process. ChangEd weathered the disruption and remains operational today.
Frequently asked questions
Did ChangEd’s Shark Tank deal close?
Yes, Mark Cuban invested $250,000 for 25% equity.
What does ChangEd do today?
It helps users manage and pay down debt of various kinds, not just student loans.
Did ChangEd survive its banking partner’s bankruptcy?
Yes, despite Synapse’s 2024 bankruptcy freezing some user accounts, ChangEd remains operational.
For more Shark Tank updates, see Talmyn’s Business Case Studies desk.
