Ascensus Invests in Nonprofitly to Scale Child Savings Programs

The deal formalizes a decade-long collaboration between the two firms. By integrating Ascensus’ administrative infrastructure with Nonprofitly’s Outcome Tracker platform, the companies intend to streamline how states launch and manage savings initiatives. For families, these programs often provide initial contributions that act as a gateway to long-term education planning, complementing traditional 529 plans.

Peg Creonte, President of Ascensus Government Savings, will join Nonprofitly’s Board of Directors, while Ascensus Chief Corporate Development Officer Raghav Nandagopal will serve as a Board Advisor. Financial terms of the agreement were not disclosed. Ascensus currently supports 49 plans across 31 states and the District of Columbia, managing over $913 billion in assets for 16 million savers.