San Francisco-based lendtech start-up Casca has raised $29 million in a Series A funding round led by venture and growth equity firm Canapi Ventures.
The round brings the company’s total backing to date to $33 million and comes just 15 months after a pre-seed raise of $3.9 million.
Pre-seed investors Y Combinator, Peterson Ventures, and Bankwell Bank “multiplied their investments” in the Series A, Casca says, while the round also included support from Live Oak Bank, Huntington National Bank, and Alliance Funding Group.
Founded in 2023 by CEO Lukas Haffer and CTO Isaiah Williams, former Stanford University and Y Combinator alumni respectively, Casca offers a loan origination platform for small business lenders built to streamline the loan application and origination process with AI.
The Casca platform features tools such as online application functionality, data processing capabilities, and credit analysis systems. Additionally, Casca also offers an AI assistant designed to support borrowers during the lending process.
Casca says the funding will be used to “scale its operations, expand its team, and accelerate go-to-market efforts”, while also “making the platform more accessible to additional financial institutions”.
Source: https://www.fintechfutures.com/
