Casca Raises $29M for AI Loan Origination Platform

Cascading AI, known as Casca, has secured $29 million in a Series A funding round. The investment was led by Canapi Ventures and increases the company's total funding to $33 million. The round also included participation from customers Live Oak Bank, Huntington National Bank, and Bankwell Bank, in addition to previous investors Y Combinator and Peterson Ventures.

StartupHub data

Companies working on this

Profiles of the companies named in this story, with funding and a one-liner from our database.

Y Combinator

A startup accelerator that provides seed funding, mentorship, and resources to early-stage companies.

Accelerating Commercial Lending

Casca develops an AI-native loan origination platform tailored for community and regional banks, giving them the ability to fund commercial and small business loans up to 30 times faster than traditional processes. Its suite of tools spans the entire lending lifecycle: a digital online application that pre-fills applicant data, instant pre-qualification, automated KYB and credit checks, AI-powered document analysis for 100+ file types, financial ratio calculations, and integrated document generation. The platform can process more than 10,000 pages of financial records in minutes, cutting loan cycle times by nearly two weeks and significantly reducing manual effort for loan officers.

In addition, Casca offers a chat-based AI loan assistant that supports both applicants and underwriters, providing real-time follow-ups, status tracking, and 24/7 borrower engagement. By combining these capabilities into one seamless system, Casca equips smaller banks with the same sophistication as larger institutions and direct competitors like Blend and nCino. The result is a full-stack lending platform that accelerates approvals, boosts borrower conversion rates, and modernizes how banks originate loans.

This new capital will help scale the platform and expand the team.

The startup's goal is to make capital more accessible for small businesses by reducing loan processing times from weeks to days. This approach to artificial intelligence helps local financial institutions retain borrowers who might otherwise seek faster funding elsewhere.