Casca has raised a $29 million Sequence A spherical led by Canapi Ventures, with participation from main financial institution prospects together with Reside Oak, Huntington, and Bankwell.
Immediately’s funding comes simply 15 months after its pre-seed spherical and brings Casca’s complete funding to $33 million.
Casca’s AI-powered mortgage origination platform helps smaller monetary establishments compete with fintechs and huge banks by accelerating mortgage processing, lowering prices, and conserving capital inside native communities.
AI mortgage origination firm Casca (previously referred to as Cascading AI) introduced a $29 million fundraising spherical at this time. The California-based firm mentioned that the spherical, which was led by Canapi Ventures, will assist it to redefine enterprise lending.
The corporate’s flagship prospects, together with Reside Oak Financial institution, Huntington Nationwide Financial institution, and Bankwell Financial institution all invested in at this time’s spherical. Bankwell, Y Combinator, and Peterson Ventures multiplied their investments from the pre-seed increase. Alliance Funding Group participated as nicely.
“Casca simplifies and accelerates our lending processes whereas equipping us with the insights wanted to construct lasting relationships,” mentioned Reside Oak Bancshares CEO and chairman Chip Mahan. “The tangible worth Casca has demonstrated provides us confidence to put money into their future.”
Immediately’s spherical comes simply 15 months after Casca’s pre-seed increase and brings its complete funding to $33 million. Casca mentioned it would use the funding to scale its operations, increase its crew, and speed up go-to-market efforts and make its platform extra accessible to monetary establishments.
“Casca stands out in some ways,” mentioned Canapi Ventures Co-Founder and Normal Companion Neil Underwood. “They’ve labored alongside high AI researchers and inside banks themselves to simplify enterprise lending utilizing accountable AI and bank-grade underwriting. With Casca, native monetary establishments grow to be the lender of alternative—providing extra inexpensive charges and conserving capital throughout the group. It’s an enormous step for banking, and we’re proud to be a part of it.”
Casca leverages AI to hurry up the mortgage utility and origination course of. The corporate was based in 2023 and its mortgage origination platform is utilized by main SBA lenders and FDIC-Insured banks. At Casca’s first FinovateSpring demo in 2024, it received Better of Present honors. The corporate most not too long ago demoed its expertise at FinovateSpring 2025 the place it confirmed automated doc assortment that may save mortgage officers 20 hours every week, AI that reads 10,000 pages in 5 minutes, immediate pre-qualification that accepts functions after enterprise hours, digital account opening, and a voice assistant that may intelligently talk about mortgage recordsdata in real-time.
“We’re pushed to be a power for good, utilizing expertise to make capital extra accessible to small companies and fueling the American Dream,” mentioned Casca CEO and CoFounder Lukas Haffer. “Partnering with the highest SBA lenders and key business gamers, we’ve constructed a platform that absolutely automates industrial loans in document time, setting a brand new business customary. It is a recreation changer, and now we’re able to scale responsibly, reaching extra establishments with the white-glove service our purchasers.”
Immediately’s increase is a nod to how AI is changing into customary and is now central to how banks win small enterprise relationships. By shaving weeks off mortgage processing, Casca provides native banks a aggressive edge in retaining small enterprise debtors who would possibly in any other case flip to fintechs or massive banks who can provide velocity.
Photograph by James Wheeler
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