NEW YORK — Kashable, a financial platform that provides responsible credit and financial solutions as an employer-sponsored voluntary benefit, has announced a Series B capital raise of $25.6 million. The round was co-led by Revolution Ventures and Moneta Ventures, with participation from EJF Capital and Krillion Ventures.
The investment will fuel Kashable’s expansion, accelerate the development of additional financial wellness services and bolster the company’s ability to extend affordable credit to employees across the credit spectrum. The funding will also allow Kashable to grow its research and development technology team, further refining its innovative underwriting model and enhancing its suite of financial products.
“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,” said Einat Steklov, co-founder and co-CEO of Kashable. “Kashable’s program provides employers with a free, innovative software solution to empower their employees with inclusive financial wellness offerings.”
Kashable’s platform addresses the needs of employees while offering employers an additional retention vehicle at the same time:
“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,” said Rishi Kumar, co-founder and co-CEO of Kashable.
“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,” said David Golden, Managing Partner at Revolution Ventures. “We look forward to partnering with the Kashable team to accelerate the development of additional financial wellness services.”
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