Software/ platforms

Digital Lending Platform Splash Financial Raises More Than $40M

New round, which includes investments from Citi Ventures and partners of DST Global, showcases continued growth for the digital lending platform and marketplace

Splash Financial (“Splash”), a leading digital lending platform that helps borrowers easily shop and compare financial products from a Splash-powered network of lenders, today announced it has secured $44.3 million in a new Series B funding round. The round includes partners of DST Global, Citi Ventures, Detroit Venture Partners, Firebolt Ventures, and existing investors CMFG Ventures and Northwestern Mutual Future Ventures. With this latest funding, Splash has secured more than $60M in equity funding since its founding.

The investment will be used to further accelerate growth within Splash’s expanding lender network and automated underwriting platform, which facilitates fast and easy access to financial products through a digital experience. Through Splash’s platform, credit unions and banks can easily gain access to new members and loans which are then originated via Splash’s turn-key digital lending technology, all while minimizing any upfront investment.

“We’re thrilled about what this funding will allow us to achieve and are excited to partner with amazing investors that share our values,” said 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 realizing our company vision — creating a faster and less expensive financial world.”

“The importance and sophistication of digital lenders is growing apace,” said Charley Howe, Director of Venture Investing at Citi Ventures. “Splash Financial is spearheading a digital transformation strategy that will meet the new demands of consumers. We see significant growth potential in the continued evolution of the lending experience and we are thrilled to support Splash’s next phase of growth.”

“We’re proud and excited to continue to support Steve and the Splash team on their journey,” said Sam Das, Managing Director at CMFG Ventures. “Splash’s focus on leveraging automated lending technology creates a more seamless way to help consumers save money and positions the company to meet the increasing demand for digital delivery of financial services.”

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