Empowering Workers Through Payroll-Linked Loans (Image Credits: Unsplash)
New York – Kashable, a fintech platform delivering affordable credit and financial wellness benefits to employees, closed a $60 million Series C funding round led by Goldman Sachs Alternatives. The investment underscores growing investor confidence in employer-sponsored lending models that prioritize low rates and payroll integration. Founded in 2013, the company has now raised more than $450 million in combined equity and debt.[1][2]
Empowering Workers Through Payroll-Linked Loans
Kashable operates as a voluntary employee benefit, allowing workers to access personal loans with repayment deducted directly from paychecks. This structure lowers default risks and enables the company to offer rates far below those of payday lenders or high-interest credit cards. Employers integrate the platform with their HR and payroll systems, making it seamless for both parties.
Beyond loans, Kashable provides financial coaching, credit monitoring, and wellness tools. The model targets a broad range of organizations, from government agencies to large corporations. Customers include universities, hospitals, school districts, and Fortune 500 firms such as Kraft Heinz, Amazon, UPS, IKEA, Cigna, and Kohler.[1]
Funding Details Signal Sustained Momentum
Goldman Sachs Alternatives’ Sustainable Investing unit committed up to $50 million to the round, starting with $25 million upfront and another $25 million planned for later, pending certain conditions. Existing investors Revolution and EJF Ventures joined the extension. Kashable’s valuation has tripled since its $25.6 million Series B in January 2024.[1]
The fresh capital arrives after a $250 million credit facility secured in 2025, highlighting the company’s ability to layer debt and equity effectively. Co-founders and co-CEOs Einat Steklov and Rishi Kumar, who previously built Coral Capital Solutions, have steered Kashable to profitability for several years. Revenue stems from loan interest, fees, and employer administration charges.[1]
Robust Growth Underpins Investor Appeal
The platform now reaches more than 4 million employees across over 600 employers. Kashable has originated nearly $2 billion in loans to date and projects $500 million in volume for 2026 alone. Year-over-year growth exceeded 40 percent through early 2026.[1]
- Governments like the State of Illinois and San Mateo County, California.
- Nonprofits including Temple University.
- Corporations such as Stanley Black & Decker.
This expansion reflects broader demand for financial stability tools amid economic pressures on working Americans. Timely payroll repayments have kept loss rates low, allowing competitive pricing.[1]
Strategic Backing from Goldman Sachs
Greg Shell, partner and head of inclusive growth at Goldman Sachs Alternatives, praised the approach. “Kashable’s platform offers a necessary financial bridge that helps users navigate personal liquidity needs without falling into predatory debt cycles,” he said. The investment aligns with efforts to back solutions enhancing financial security for underserved groups.[1]
Rishi Kumar emphasized the model’s efficiency: “Timely repayments through payroll reduce default rates, giving Kashable better unit economics that it can then pass on to its customers as lower-cost loans.” Such endorsements position Kashable ahead of rivals in the salary-linked lending space.[1]
As fintech funding rebounds, Kashable’s trajectory suggests employer benefits will play a larger role in bridging personal finance gaps. With Goldman Sachs’ support, the company stands ready to scale its impact further.
