Splash Financial lands $44m in Series B funding round
Digital lending platform Splash Financial has secured $44.3 million in a new Series B funding round.
The Cleveland-based fintech has now secured more than $60 million in equity funding since its launch in 2013.
The round was led by partners of DST Global, Citi Ventures and Detroit Venture Partners with participation from existing investors CMFG Ventures and Northwestern Mutual Future Ventures.
Splash says the investment will be used to further expand its lender network and accelerate the development of its automated underwriting platform.
The firm helps borrowers shop and compare financial products from a network of lenders.
It claims to be “one of the national leaders” in refinancing student loans, boasting 100,000 accounts and more than $6 billion in refinancing requests.
“We’re thrilled about what this funding will allow us to achieve and are excited to partner with amazing investors that share our values,” says Steven Muszynski, founder and CEO of Splash Financial.
“The expectation of consumers today is to be able to compare, shop and save on their financial products all while in the comfort of their own homes.
“This funding round brings us another step closer to realising our company vision — creating a faster and less expensive financial world.”