Casca Raises $29M to Scale AI Loan Origination
Casca, an AI-native loan origination platform, has successfully raised $29 million in a Series A funding round. Canapi Ventures led this investment, which brings Casca’s total funding to $33 million. Notably, existing customers including Live Oak Bank, Huntington National Bank, and Bankwell Bank participated in the round. Additionally, Y Combinator and Peterson Ventures joined as investors, demonstrating strong market confidence.
Founding Vision and Technological Advantage
Founded in 2023 by banking IT specialists and Stanford AI researchers, Casca claims remarkable efficiency gains. Their platform reportedly funds commercial loans ten times faster than competing fintech solutions. More impressively, it operates thirty times faster than traditional industry averages. This significant speed advantage positions Casca as a potential disruptor in the typically slow commercial lending sector.
Strategic Use of Funds and Market Expansion
The new capital will primarily scale operations and expand Casca’s team. Furthermore, it will accelerate go-to-market initiatives to reach more financial institutions. By leveraging artificial intelligence, Casca effectively eliminates loan process bottlenecks. Consequently, banks can provide faster, more affordable, and more accessible lending services to their customers.
Investor Perspective and Community Impact
Neil Underwood, Co-Founder and General Partner at Canapi Ventures, highlighted Casca’s social value: “Casca empowers local financial institutions to become preferred lenders. They can offer more competitive rates while retaining capital within their communities. This represents a substantial advancement for banking, and we’re excited to support it.”
Broader Industry Implications
Casca’s emergence reflects the growing influence of AI-driven platforms across financial services. From payments and compliance to lending, artificial intelligence is transforming traditional processes. With robust backing and an established customer base, Casca appears positioned to play a central role in modernizing commercial loan origination for banks nationwide.
