#United States #New York #Financial Wellness #Credit Facility #Kashable

Kashable Secures $250 Million Credit Facility

Kashable, a leading fintech company dedicated to improving financial wellness among American workers, recently announced a significant milestone: the closing of a $250 million credit facility. This new financing is set to expand their employer-sponsored voluntary benefits aimed at providing equitable and affordable credit options to employees across various industries in the United States.

The facility, led by Nomura Corporate Funding Americas, LLC, marks a substantial funding boost for Kashable, which has previously raised nearly $400 million across both equity and debt financing, including during its Series B round earlier in January 2024. This latest funding will further enhance Kashable's unique underwriting model, allowing it to continue offering innovative credit solutions and support systems that focus on the long-term financial well-being of employees.

Einat Steklov, co-founder and co-CEO of Kashable, expressed excitement over the achievement, stating, "This financing marks a significant achievement for Kashable. The addition of this facility reflects the strength of our platform, the uniqueness of our underwriting model, and performance of our loan portfolio. The funding will allow Kashable to enhance HR and payroll integration systems and accelerate the development of financial wellness tools to support long-term financial stability."

The partnership with Nomura also signifies an important relationship, reinforcing the belief in Kashable’s mission. John Costello from Nomura Securities International, Inc. stated, "Nomura is proud to support Kashable in its mission to provide innovative credit solutions to working America."

Founded in 2013, Kashable has established a robust platform that has originated almost $1.5 billion in affordable loans through its financial wellness solutions. With its services now reaching over 4 million employees, including those from Fortune 500 companies and various government agencies, Kashable aims to provide employees with access to vital resources that promote financial stability.

In addition to its core loan offerings, Kashable has developed a comprehensive suite of financial wellness solutions, including personalized financial coaching, budgeting tools, and credit monitoring, all designed to help employees achieve long-term financial health. These services are particularly important in helping employees avoid high-interest loans and borrowing against their retirement plans when they face short-term financial challenges.

As more employers recognize the benefits of financial wellness programs, Kashable continues to actively seek partnerships to broaden its reach and impact. By focusing on Socially Responsible Credit™, it aims to improve the quality of financial life within the workforce while promoting responsible lending practices among its partners.

To learn more about services or to explore partnership opportunities, interested parties can visit Kashable's official website.

About Kashable

Kashable operates as a fintech company that provides employer-sponsored financial wellness solutions and access to Socially Responsible Credit™. With a commitment to improving the financial well-being of working Americans, Kashable's services are designed to be accessible, reliable, and affordable. Through its innovative technology and holistic approach to financial health, Kashable is redefining how employees engage with credit and financial solutions.

About Nomura

Founded in 1925, Nomura is a major financial services group providing a comprehensive range of services globally. With an integrated network, Nomura supports individuals, corporates, and governments through various business divisions, including Wealth Management and Investment Banking. The firm prides itself on delivering creative solutions tailored to the unique needs of its clients.