Priya PatelTL;DR: Fintech firm Kashable has raised $25.6 million in a Series B funding round led by Revolution Ventures and Moneta Ventures. The New York-based company specializes in providing socially responsible credit as a benefit to employers and their employees. The funds will be used to expand its research and development technology team and develop additional financial wellness services. Kashable aims to increase credit accessibility and drive employee engagement and retention through its holistic underwriting model.
Kashable, a fintech company that provides socially responsible credit to employees as a voluntary benefit, has raised $25.6 million in a Series B funding round. The funding was led by Revolution Ventures and Moneta Ventures, with participation from EJF Capital and Krillion Ventures. Revolution Ventures managing partner David Golden and Moneta Ventures managing partner Meirav Har Noy will join the board of directors of Kashable. The company plans to use the funding to expand its research and development technology team and develop additional financial wellness services. Kashable’s platform connects directly to a company’s payroll system, allowing employers to issue credit based on employee employment and income data, with loan repayment made through payroll deductions. The company aims to increase credit accessibility and drive employee engagement and retention through its holistic underwriting model.
