Lending marketplace Splash Financial bags $70m funding

September 18, 2025

Splash Financial, a lending marketplace powered by artificial intelligence, has raised more than $70m in a Series C funding round.

The company, which connects consumers with credit unions and banks through automated loan processing technology, also announced the launch of its new home equity line of credit (HELOC) product.

The round was led by Grand Oaks Capital, with backing from First Tech Federal Credit Union, Curql Collective, The O.H.I.O. Fund and existing investors. The latest funding brings Splash’s total equity raised to more than $135m since its founding, while it has facilitated over $6bn in loans.

Based in the US, Splash has developed a platform that helps traditional lenders provide frictionless borrowing experiences at competitive rates. It has become a destination for borrowers looking to refinance student loans or take out personal loans, and with its latest HELOC offering, homeowners can now access the value of their property in a flexible way.

The fresh capital will be used to accelerate growth and strengthen Splash’s position as a go-to platform for consumers seeking competitive lending solutions from credit unions and community banks. The company said it will continue to invest in technology to broaden its network of lending partners and provide more tools to support their programmes.

Splash emphasises a mission of helping consumers become more powerful than their debt. This includes supporting people as they refinance student loans, consolidate personal debt, or increasingly turn to home equity to fund key life events.

Splash Financial CEO Steven Muszynski said, “Splash provides credit unions and community banks with the technology, models, and scale to efficiently grow their lending programs. With this new equity capital, we’re expanding our credit union and bank network—supporting our partners with the tools they need to reach more borrowers and deliver a streamlined, competitive lending experience.”

Grand Oaks Capital chief investment officer Dave Bovenzi said, “Consumers today expect great rates and a frictionless experience, but many traditional lenders struggle to deliver that ‘wow’ factor. We’re excited to invest in Splash because they empower credit unions and banks to offer a modern, tech-forward lending experience that truly meets today’s consumer expectations.”

First Tech Federal Credit Union president and CEO Greg Mitchell said, “By deepening our long-term partnership with Splash Financial, we’re able to offer a streamlined, tech-enabled debt consolidation and HELOC solution that provides current and future members/owners with fast, flexible access to funds they need to secure a strong financial future.”

Curql Collective president and CEO Nick Evens said, “For credit unions that want a deeply mission-oriented partner focused on credit union success, Splash is a best-in-class solution. Splash’s focus on leveraging AI and automated lending technology will enable strong growth across HELOC and Personal Loans, providing credit unions with new members and delivering a smooth borrowing experience.”