Kashable, a New York-based FinTech company focused on delivering employer-sponsored credit and wellness benefits, has secured a $250m credit facility to fuel its expansion across American workplaces.
The facility was led by Nomura Corporate Funding Americas, LLC, which served as the lead lender and agent. Additional support comes from MidCap Financial, the lending arm of Apollo Global Management, which maintains a separate lending relationship with the firm.
Founded in 2013, Kashable offers a mission-driven platform that provides affordable credit and financial wellness solutions as a voluntary benefit to employees across the US. Its products are designed to support long-term financial stability through payroll-integrated loans, budgeting tools, credit monitoring, and personalised coaching.
The new capital will be used to enhance Kashable’s HR and payroll integration capabilities, as well as further develop its suite of financial wellness tools. The company aims to reach a broader network of employers and continue its efforts in promoting equitable access to responsible credit.
Kashable has already originated close to $1.5bn in employee loans and now reaches over 4 million employees at organisations ranging from Fortune 500 companies and government agencies to mid-sized businesses across multiple sectors.
Kashable co-founder and co-CEO Einat Steklov said, “This financing marks a significant achievement for Kashable. The addition of this facility reflects the strength of our platform, the uniqueness of our underwriting model, and performance of our loan portfolio. The funding will allow Kashable to enhance HR and payroll integration systems and accelerate the development of financial wellness tools to support long-term financial stability.”
Nomura Securities International’s John Costello added, “Nomura is proud to support Kashable in its mission to provide innovative credit solutions to working America.”
This latest funding milestone follows Kashable’s Series B equity round in January 2024 and brings its total capital raised to nearly $400m in combined equity and debt.
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Source: https://fintech.global/
