Kashable, a finech platform that offers credit to employees through a company's payroll system, has bagged $25.6 million in a Series B capital raise.
The round was co-led by Revolution Ventures and Moneta Ventures, with participation from EJF Capital and Krillion Ventures.
Kashable integrates with employer Human Resource Information System and payroll systems — enabling immediate access to loans that are automatically repaid through salary deductions.
The firm also provides employees with access to free financial education resources including credit monitoring, individual financial coaching, and budgeting tools.
Since its founding in 2013, the company has extended access to credit to hundreds of thousands of individuals through 250+ employers such as Cigna, Reid Health, Huntington Ingalls, Alight Solutions, and more.
"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 programme provides employers with a free, innovative software solution to empower their employees with inclusive financial wellness offerings."
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