Backer

Backer is a U.S.-based 529 college savings plan platform founded in 2017 by Jordan Lee and Michael Bijlsma that operates under a straightforward premise: make it simple for families to open a 529 and invite friends, family, and extended relatives to contribute to it directly via a one-click digital flow. Traditional 529 plans exist at the state level and typically require opening an account through a state's official custodian — a process that can feel cumbersome and lacks built-in social fundraising features. Backer strips that friction out, operates under the Nevada 529 College Savings Plan (with Vanguard-managed underlying funds), and layers a clean, consumer-focused app experience on top.

The platform currently serves tens of thousands of families, with over $100 million in cumulative deposits. Backer's product is structured as a robo-advisor: after answering a short questionnaire about the child's age and your risk preferences, Backer builds an age-based portfolio of Vanguard ETFs that automatically shifts from equity-heavy to conservative as the beneficiary approaches college age. The annual fee is 0.35% (plus the underlying Vanguard expense ratios, typically 0.05%–0.15%), which is competitive but not the lowest in the category — direct-sold state 529s often charge 0.10%–0.30%. In return, families get automatic bank links, recurring contributions, a gifting page that generates a shareable link, and IRS-compliant gift receipts for contributors who want to claim the gift exclusion.