Summary
Kashable, a New York-based fintech providing socially responsible credit and financial wellness programs through employers, has raised $60M in Series C funding led by Goldman Sachs Alternatives' Sustainable Investing arm. Goldman committed up to $50M of the total ($25M immediate, $25M conditional). Kashable's total equity and debt raised exceeds $450M since 2013. The company's valuation has tripled since its Series B in January 2024. Kashable targets $500M+ in loan volume by end of 2026.
Key Facts
- $60M Series C led by Goldman Sachs Alternatives Sustainable Investing
- Goldman committed $50M of total ($25M immediate, $25M conditional)
- Total equity + debt raised: $450M+ since founding in 2013
- Valuation tripled since Series B (January 2024)
- Model: employer-facilitated loans at lower rates than payday/credit card alternatives
- Loan repayment via payroll deduction reduces default rates
- Also offers credit monitoring, financial coaching as employee benefits
- Targeting $500M+ loan volume by end of 2026
- Profitable operations; co-CEO noted continued profitability
Why It Matters
Kashable represents a growing category of "embedded financial wellness" — fintechs that integrate credit and financial services into employer benefits platforms. The Goldman Sachs backing signals that institutional investors see employer-sponsored credit as a scalable, socially responsible alternative to high-interest lending. The payroll-deduction model creates superior unit economics (lower defaults) while addressing the $1T+ US market for employees who lack access to affordable credit. This model could expand as employers increasingly view financial wellness as a retention tool.