Goldman Sachs Leads $60M Funding Round in Kashable
Goldman Sachs Alternatives, a platform by Goldman Sachs Asset Management, will be as part of a group investing $60 million in fintech platform Kashable.
Sustainable Investing at Goldman Sachs Alternatives led the Series C funding round, with participation from existing investors Revolution Ventures and EJF Investors.
Goldman Sachs Alternatives will be committing up to $50 million, including an initial $25 million investment and an additional $25 million to be funded in the coming months, subject to conditions. Revolution Ventures and EJF Ventures will add an extra $10 million to the investment.
Kashable provides access to credit monitoring, financial coaching, and credit for employees needing to borrow funds, who don’t want to withdraw from retirement plans, high-interest credit cards, or other options. The platform combines loan repayment services with payroll.
The latest funding round will allow Kashable to expand its employer footprint, deepen partnerships with clients’ human resources (HR), benefits, and finance teams, and improve upon its platform.
“We’re thrilled to partner with Goldman Sachs Alternatives,” said Rishi Kumar, co-founder and co-CEO of Kashable, in a statement. “Employer-sponsored financial wellness, anchored by fair, transparent access to low-cost credit is rapidly becoming a core pillar of the next generation of consumer finance. Goldman Sachs Alternatives’ leadership in this round reinforces that Kashable’s approach represents a durable, institution-grade model for scaling comprehensive financial access through the workplace.”
Sustainable Investing at Goldman Sachs Alternatives says its funding aligns with its goal to invest in “high-growth companies delivering greater access, affordability, and outcomes for underserved populations.”
“We believe access to responsible financial tools is a critical driver of economic mobility,” said Greg Shell, partner and head of Inclusive Growth at Goldman Sachs Alternatives. “Kashable has built a proven, scalable platform that empowers employers to play a meaningful role in their employees’ financial wellbeing, demonstrating that impact and strong performance can go hand in hand.”
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news.