Casca Raises $29 Million Series A to Reshape Business Lending

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was built by a group of engineers and banking professionals who had seen the difficulties banks face when working with outdated systems.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.