Kashable

High-Level Overview

Kashable is a New York-based fintech company founded in 2013 that provides employer-sponsored, socially responsible credit and financial wellness solutions to working Americans.[1][2][3][5] It offers affordable, payroll-integrated loans as a voluntary employee benefit, alongside tools like budgeting, credit monitoring, and personalized coaching, serving over 4 million employees at more than 250 companies ranging from Fortune 500 firms to government agencies and mid-sized businesses.[1][2][3] The platform solves short-term financial gaps by providing quick access to low-cost credit, preventing reliance on high-rate credit cards, retirement loans, or predatory lenders, with nearly $1.5 billion in loans originated to date.[2][3][6] Kashable has raised nearly $400 million in combined equity and debt, including a $250 million credit facility in May 2025 led by Nomura and supported by Apollo's MidCap Financial, fueling HR/payroll integrations and wellness tool expansions.[2][3]

Origin Story

Kashable was co-founded in 2013 by Einat Steklov (CEO) and Rishi Kumar (Co-CEO), who combined their expertise in finance, technology, and personal experience with credit access challenges.[1] Steklov, an Israeli immigrant with an LLB from Tel Aviv University and MBA from Columbia Business School, was motivated by the difficulties of building financial security in the U.S., while Kumar, an MIT computer scientist and former Wall Street derivatives trader, applied big data engineering and innovative underwriting to create a digitally native lending solution.[1] Early traction came from partnerships with employers, evolving into a platform that has raised over $200 million initially and scaled to nearly $400 million total capital by 2025, including a Series B in January 2024.[1][2][3] Pivotal moments include responding to COVID-19-era demands for alternatives to retirement loans and recent expansions via the 2025 credit facility.[2][3][5]

Core Differentiators

• Innovative Underwriting and Technology: Uses patented big data analysis for equitable, low-cost credit approval, enabling quick online loans with automatic payroll repayment, outperforming traditional models in speed and affordability.[1][2][3][5]
• Employer-Sponsored Model: Seamlessly integrates with HRIS and payroll systems, offered as a voluntary benefit with minimal employer effort, reaching diverse workforces across sectors.[1][2][3][5]
• Holistic Financial Wellness Suite: Beyond loans, provides budgeting tools, credit monitoring, and personalized coaching for long-term stability, distinguishing it from pure lending platforms.[2][3][5]
• Social Impact Focus: Prioritizes "Socially Responsible Credit™" to promote financial equity, with strong loan portfolio performance attracting major lenders like Nomura and Apollo.[2][3]
• Proven Scale and Leadership: Led by experienced execs like CTO Hoon (20-year cloud architecture veteran), with partnerships at 250+ employers and $1.5B loans originated.[1][2][3]

Role in the Broader Tech Landscape

Kashable rides the fintech trend of employer-sponsored financial wellness, addressing rising employee financial stress amid inflation, gig economy shifts, and post-pandemic instability, where traditional credit often excludes working-class Americans.[1][2][3][5] Timing is ideal as HR benefits evolve toward holistic perks—Kashable's payroll integration taps into this, influencing ecosystems by partnering with HR platforms like PlanSource and savings providers like SecureSave.[5] Market forces like demand for equitable credit (e.g., avoiding predatory options) and employer retention tools favor its growth, with the 2025 $250M facility signaling investor confidence in scalable, mission-driven fintech.[2][3] It shapes the landscape by normalizing low-cost, tech-enabled lending, boosting fintech adoption in HR tech and promoting financial inclusion across industries.[2][5]

Quick Take & Future Outlook

Kashable is poised for accelerated expansion, leveraging its new $250M facility to deepen HR/payroll integrations and wellness tools, potentially doubling its 4M-employee reach amid growing employer focus on retention perks.[2][3] Trends like AI-driven personalization in fintech and regulatory pushes for consumer protection will shape its path, enhancing underwriting and coaching efficacy. Its influence may evolve from niche lender to full-spectrum wellness leader, influencing HR standards and attracting more Fortune 500 partnerships. This builds on its core mission: redefining credit access to empower working America.[1][2][3]