Casca raises $29m for AI-based loan origination platform

Editorial

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Casca customers Live Oak Bank, Huntington National Bank, and Bankwell Bank joined the round, alongside Y Combinator and Peterson Ventures, bringing the startup’s total funding to $33 million.

Founded in 2023 by banking IT experts and AI researchers from Stanford University, Casca claims that its platform funds commercial loans up to 10 times faster than other fintechs and 30 times faster than industry averages.

The new money will be used to scale its operations, expand its team, and accelerate go-to-market efforts.

Neil Underwood, co-founder and general partner, Canapi Ventures, says: “With Casca, local financial institutions become the lender of choice-offering more affordable rates and keeping capital within the community. It’s a big step for banking, and we’re proud to be part of it.”