New York, USA-based fintech platform provider of socially responsible credit and financial wellness solutions as an employer-sponsored voluntary benefit, Kashable closed Series B funding with USD 25.6 million. The company announced the closure on January 18, 2023. Revolution Ventures and Moneta Ventures co-led the financing for the company. EJF Capital and Krillion Ventures also joined in the funding.
Purpose of financing for Kashable
With the latest financing, the company aims to fuel its rapid expansion. It also has plans to accelerate the development of additional financial wellness services. Meanwhile, the company aims to bolster the company’s ability to extend affordable credit to employees across the credit spectrum. The funding further allows Kashable to grow its research and development technology team. The fintech firm intends to refine its innovative underwriting model and enhance its suite of financial products.
What the company’s official has to add
Einat Steklov, co-founder and co-CEO of Kashable, said, “In a world where financial instability can strike anyone, at any time, Kashable is taking a bold stance: access to credit shouldn’t be a privilege, it should be attainable. Kashable’s program provides employers with a free, innovative software solution to empower their employees with inclusive financial wellness offerings.”
In addition, Rishi Kumar, co-founder and co-CEO of Kashable, said, “We’re committed to scaling the product offering and creating a path for more employees to gain access to responsible credit in ways that have not been historically available to working Americans. Our unique underwriting model is holistic, considering a number of factors to increase accessibility. Kashable loans are purpose-built to drive employee engagement and to deliver comprehensive financial wellness solutions.”
What the investors have to comment
David Golden, Managing Partner at Revolution Ventures, further said, “Kashable’s unique underwriting model and deep integration with payroll systems have enabled the company to broaden access to affordable credit while allowing individual employees to improve their credit scores. We look forward to partnering with the Kashable team to accelerate the development of additional financial wellness services.”
Meirav Har Noy, Managing Partner and Co-Founder at Moneta Ventures said, “Kashable’s innovative approach to financial wellness resonates deeply with our commitment to advancing responsible and inclusive fintech solutions. We’re excited to contribute to the journey of improving the financial well-being of working Americans.”
About the company
Einat Steklov and Rishi Kumar are the co-founders of the company. Kashable leverages innovative technology to improve the financial well-being of working Americans with a commitment to both reliability and affordability.
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