CMFG Ventures and NM Future Ventures back Splash Financial
Lending platform Splash Financial 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 TruStage Ventures and Northwestern Mutual Future Ventures . With this latest funding, Splash has secured more than $60 million 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. 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.” – Steven Muszynski, Founder and CEO of Splash Financial.
“The importance and sophistication of digital lenders is growing apace. 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.” – Charley Howe, Director of Venture Investing at Citi Ventures.
“We’re proud and excited to continue to support Steve and the Splash team on their journey. 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.” – Sam Das, Managing Director at CMFG Ventures.