Casca has raised a $29 million Collection A spherical led by Canapi Ventures, with participation from main financial institution clients together with Dwell Oak, Huntington, and Bankwell.
Right now’s funding comes simply 15 months after its pre-seed spherical and brings Casca’s whole funding to $33 million.
Casca’s AI-powered mortgage origination platform helps smaller monetary establishments compete with fintechs and enormous banks by accelerating mortgage processing, lowering prices, and retaining capital inside native communities.
AI mortgage origination firm Casca (previously often known as Cascading AI) introduced a $29 million fundraising spherical immediately. The California-based firm stated that the spherical, which was led by Canapi Ventures, will assist it to redefine enterprise lending.
The corporate’s flagship clients, together with Dwell Oak Financial institution, Huntington Nationwide Financial institution, and Bankwell Financial institution all invested in immediately’s spherical. Bankwell, Y Combinator, and Peterson Ventures multiplied their investments from the pre-seed increase. Alliance Funding Group participated as effectively.
“Casca simplifies and accelerates our lending processes whereas equipping us with the insights wanted to construct lasting relationships,” stated Dwell Oak Bancshares CEO and chairman Chip Mahan. “The tangible worth Casca has demonstrated offers us confidence to spend money on their future.”
Right now’s spherical comes simply 15 months after Casca’s pre-seed increase and brings its whole funding to $33 million. Casca stated it can use the funding to scale its operations, broaden its workforce, and speed up go-to-market efforts and make its platform extra accessible to monetary establishments.
“Casca stands out in some ways,” stated Canapi Ventures Co-Founder and Basic Associate 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 turn into the lender of alternative—providing extra reasonably priced charges and retaining 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 software 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 just lately demoed its expertise at FinovateSpring 2025 the place it confirmed automated doc assortment that may save mortgage officers 20 hours per week, AI that reads 10,000 pages in 5 minutes, on the spot pre-qualification that accepts purposes 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 pressure for good, utilizing expertise to make capital extra accessible to small companies and fueling the American Dream,” stated Casca CEO and CoFounder Lukas Haffer. “Partnering with the highest SBA lenders and key business gamers, we’ve constructed a platform that totally 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 shoppers.”
Right now’s increase is a nod to how AI is turning into customary and is now central to how banks win small enterprise relationships. By shaving weeks off mortgage processing, Casca offers native banks a aggressive edge in retaining small enterprise debtors who may in any other case flip to fintechs or large banks who can supply pace.
Photograph by James Wheeler
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