Gentry Locke Advises Nonprofitly in Strategic Investment by Ascensus
Richmond I Norfolk, Va. — Gentry Locke is pleased to announce its representation of Nonprofitly in connection with a strategic investment by Ascensus, a leading provider of savings and financial services solutions. The transaction strengthens a long-standing partnership between the two organizations and expands access to education savings opportunities for millions of families nationwide.
The investment positions Nonprofitly to further scale its flagship Outcome Tracker platform, which supports Child Savings Account (CSA) programs across 14 states and helps manage more than 6.5 million accounts representing over $3.5 billion in education savings assets. Ascensus and Nonprofitly have collaborated for more than a decade to advance education savings initiatives and improve access to pathways for higher education.
Gentry Locke’s deal team was led by partners Wythe Michael and Mike Moro, who guided Nonprofitly through the transaction and capital raise process.
“This transaction highlights the important work being done to expand educational opportunities and financial access for families across the country,” said Michael. “We were honored to help Nonprofitly navigate this strategic partnership and support its continued growth.”
Moro added, “We are proud to have served as counsel on a transaction that will help the company scale its reach and effectiveness.”
Michael and Moro brought together Gentry Locke’s corporate and transactional experience to help structure and execute a deal that aligns with Nonprofitly’s long-term strategic goals. Their leadership reflects the firm’s commitment to advising growth-oriented companies, investors, and mission-driven organizations on complex transactions that create lasting value.
The transaction underscores Gentry Locke’s continued strength in mergers and acquisitions, private investments, and corporate finance matters throughout Virginia and beyond.
About Gentry Locke
With over 80 lawyers practicing across a range of disciplines, Gentry Locke brings uncommon thinking and deep experience to the legal and business challenges of companies, institutions, organizations, and individuals — a commitment the firm has met since 1923. Operating from offices in Roanoke, Lynchburg, Richmond, and Norfolk, Gentry Locke serves clients in Virginia and across the United States. Meet the firm’s dynamic attorneys and learn more about its fierce drive to achieve success for its clients by visiting gentrylocke.com.
