Former CEO of Citigroup Vikram S. Pandit Invests in Start-Up CommonBond

The startup CommonBond, takes money from investors and loans it out to MBA students, at lower rates than the student loans of the government. The company also refinances existing loans. The company just raised $100 million, with equity financing headed by equity financing was led by Tribeca Venture Partners.

One of the major backers of the start-up is Vikram S. Pandit, former chief executive officer of Citigroup.

MBA graduates can get a fixed rate of 5.99 percent on their loans when they consolidate their debt.