Kashable Secures $250M Credit Facility to Expand Financial Wellness for U.S. Employees
Kashable, a mission-driven fintech platform redefining credit for working Americans through employer-sponsored voluntary benefits, announced the closing of a $250 million credit facility. This financing supports Kashable’s continued delivery of affordable credit and financial wellness solutions and its expansion to employers across the U.S.
Financing Details
- Lead lender: Nomura Corporate Funding Americas, LLC, serving as lead lender and agent.
- Additional support: Apollo Global Management via MidCap Financial with a separate lending relationship.
- The new facility follows Kashable’s Series B equity round in January 2024, bringing total capital raised to nearly $400 million across equity and debt.
Company and Platform Highlights
- Since 2013, Kashable has originated nearly $1.5 billion in affordable loans.
- Reaches over 4 million employees spanning Fortune 500 companies, government agencies, and mid-sized employers across industries.
- Offers a core consumer loan product alongside financial wellness tools such as budgeting, personalized coaching, and credit monitoring.
Leadership Perspectives
- Einat Steklov, Co-founder and Co-CEO:
Highlights the strength of Kashable’s platform, unique underwriting model, and loan portfolio performance.
Emphasizes plans to enhance HR and payroll integrations and accelerate financial wellness tool development for long-term financial stability. - John Costello, Nomura Securities International, Inc.:
Expresses pride in supporting Kashable’s mission to provide innovative credit solutions to working Americans.
With this significant financing milestone, Kashable is well-positioned to scale its impact, offering equitable credit and comprehensive financial wellness programs that empower employees and employers nationwide.
