Casca has completed a 29 million dollar Series A round led by Canapi Ventures. The round also included Y Combinator, Peterson Ventures, Live Oak Bank, Huntington National Bank, and Bankwell Bank as participants. The company was founded in 2023 and now has total funding of 33 million dollars.
Casca has developed software that automates commercial loan origination, reducing approval times and funding delays. According to the company, loans on its system can be processed up to ten times faster than comparable financial technology competitors and up to thirty times faster than traditional banking systems.
Founders’ Perspective
Casca’s co-founder Lukas Haffer described the company’s motivation as rooted in expanding access to business funding. He explained that the firm aims to “make capital more accessible to small businesses” and noted that the team’s focus is on “funding loans in record time while keeping client relationships at the center”.
The company was built by a group of engineers and banking professionals who had seen the difficulties banks face when working with outdated systems. Many of these systems require manual data entry and long review cycles, creating bottlenecks for small businesses in urgent need of capital. Casca’s leadership claims that its model shortens those cycles without requiring lenders to overhaul their entire infrastructure.
Role of Banking Partners
Live Oak Bank, one of the top issuers of Small Business Administration loans in the United States, was among the investors in this round. Chief executive Chip Mahan noted that Casca has helped the bank simplify and accelerate lending while also providing “insights needed to build lasting relationships.” Huntington Bank, another large SBA lender, also joined as a customer and investor. Community banks in particular have been seeking ways to compete with larger institutions and online lenders. Casca’s ability to draw funding from its own banking clients shows a measure of validation within the sector.
Casca is entering a market with competition. Established systems such as Loan IQ, TurnKey Lender, Backbase, and Newgen Digital Loan Origination already provide software for commercial and retail lending. Mortgage Automator and Axe Credit Portal also operate in related segments, focusing on private lending and credit automation respectively.
Small business lending has been a difficult segment for banks. Approval times can stretch for weeks, discouraging borrowers who require quick access to funds. Online lenders entered this space by offering faster approvals, though often at higher costs. Banks have since been under pressure to narrow that gap.
Casca argues for technology-driven lending without removing banks from the process. Instead of bypassing the system, the model is designed to equip banks with tools that allow them to compete on turnaround time while still meeting regulatory expectations.
Technology and Regulation
One of the challenges in lending automation is aligning with strict compliance requirements. Regulatory oversight of commercial lending in the United States leaves little margin for error. Casca’s team includes former banking technologists who have emphasized that compliance features are integrated into the product. This detail is essential, as community banks in particular often lack the resources to customize large systems for their needs.
The promise of shorter funding cycles will matter little if institutions are exposed to regulatory risks. Casca has argued that its product balances both concerns by automating repetitive tasks while maintaining human review for decision-making. Casca plans to expand its workforce and scale customer support. The company also intends to invest in infrastructure that can handle increased transaction volume as more banks sign on. The leadership has emphasized responsible scaling rather than rapid expansion, citing the importance of maintaining reliability for banks already using the system.
