AI-native loan origination platform Casca has raised $29 million in a Series A funding round led by Canapi Ventures.
Customers of Casca, including Live Oak Bank, Huntington National Bank, and Bankwell Bank, participated in 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 funding will be utilized to scale operations, expand the team, and accelerate go-to-market efforts. Neil Underwood, co-founder and general partner at Canapi Ventures, stated, “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.”