The funding will help the company further develop its automated underwriting platform. Here are the top-line bullets you need to know.
Splash Financial, a digital lending fintech platform, has raised $44.3M in a Series B that drew participation from DST Global, Citi Ventures, Detroit Venture Partners, and Firebolt Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Ohio-based Splash Financial is a student loan refinancing marketplace offering loans from banks, credit unions, and other lenders. The platform helps borrowers compare financial products from various lenders and shop to save money.
- The company says it has 100,000 user accounts and more than $6B in refinancing requests.
Source: Splash Financial
WHY DOES THE MARKET MATTER?
- The fintech market is projected to grow at a CAGR of 23.41% to reach a value of $324B by 2026, according to Market Data Forecast.
- Global fintech adoption stands at 25% and provides enormous opportunities for growth to providers and first movers.
- The market has seen a funding boom in recent years. In Q1’21, VCs infused $22.8B into fintech companies.
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