Casca Raises $29 Million Series A for AI Loan Origination

Casca has raised a $29 million Collection A spherical led by Canapi Ventures, with participation from main financial institution clients together with Stay Oak, Huntington, and Bankwell.

At the moment’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 huge banks by accelerating mortgage processing, lowering prices, and holding capital inside native communities.

AI mortgage origination firm Casca (previously often known as Cascading AI) introduced a $29 million fundraising spherical right this moment. The California-based firm mentioned that the spherical, which was led by Canapi Ventures, will assist it to redefine enterprise lending.

The corporate’s flagship clients, together with Stay Oak Financial institution, Huntington Nationwide Financial institution, and Bankwell Financial institution all invested in right this moment’s spherical. Bankwell, Y Combinator, and Peterson Ventures multiplied their investments from the pre-seed elevate. Alliance Funding Group participated as nicely.

“Casca simplifies and accelerates our lending processes whereas equipping us with the insights wanted to construct lasting relationships,” mentioned Stay Oak Bancshares CEO and chairman Chip Mahan. “The tangible worth Casca has demonstrated offers us confidence to put money into their future.”

At the moment’s spherical comes simply 15 months after Casca’s pre-seed elevate and brings its whole funding to $33 million. Casca mentioned it’ll use the funding to scale its operations, broaden its group, and speed up go-to-market efforts and make its platform extra accessible to monetary establishments.

“Casca stands out in some ways,” mentioned Canapi Ventures Co-Founder and Basic Companion Neil Underwood. “They’ve labored alongside prime 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 selection—providing extra inexpensive charges and holding capital inside the neighborhood. 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 utility 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 gained Better of Present honors. The corporate most lately demoed its know-how 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, prompt pre-qualification that accepts functions after enterprise hours, digital account opening, and a voice assistant that may intelligently talk about mortgage information in real-time.

“We’re pushed to be a pressure for good, utilizing know-how to make capital extra accessible to small companies and fueling the American Dream,” mentioned Casca CEO and CoFounder Lukas Haffer. “Partnering with the highest SBA lenders and key trade gamers, we’ve constructed a platform that absolutely automates industrial loans in report time, setting a brand new trade commonplace. This can be a recreation changer, and now we’re able to scale responsibly, reaching extra establishments with the white-glove service our purchasers.”

At the moment’s elevate is a nod to how AI is turning into commonplace 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 would possibly in any other case flip to fintechs or massive banks who can supply pace.

Photograph by James Wheeler

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