As Crunchbase reported Monday (April 27), the company’s Series C round was led by Goldman Sachs Alternatives’ Sustainable Investing, which has committed up to $50 million.
Kashable provides employer-facilitated loans that it says offer better rates than might be found with a traditional bank, thus making it a more attractive alternative to payday loans or high-interest credit cards.
Aside from its loans, Kashable works with employers to give their workers financial wellness services like credit monitoring and financial coaching, the report added.
Kashable Co-founder and Co-CEO Rishi Kumar told Crunchbase the company has grown more than 40% year over year thus far in 2026.
“Timely repayments [of loans] through payroll reduce default rates, giving Kashable better unit economics that it can then pass on to its customers as lower-cost loans,” Kumar told Crunchbase News.
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The firm’s revenue model is based around interest and fees paid on loans and administrative fees from employers.
The company has funded nearly $2 billion in loans to date and expects to exceed $500 million in volume this year. Co-founder and co-CEO Einat Steklov said Kashable is profitable, and has been “for several years.” Kashable raised $25.6 million from its Series B funding round in 2024.
Its newest funding round comes at a time when borrowing has gotten harder for many American workers, as PYMNTS Intelligence research has shown.
The March 2026 “Wage to Wallet Index,” a collaboration between PYMNTS Intelligence, WorkWhile and Ingo Payments, found a divide between salaries employees and those in the Labor Economy. These are workers such as warehouse associates, delivery drivers, caregivers, cooks and retail staff.
“The findings are striking. When a shortfall hits, higher earners reach for a credit card and move on,” PYMNTS wrote last month.
“Labor workers reach for a shorter, harder list: a loan from a family member, a deferred utility bill, a pawned possession, an extra shift picked up on a weekend. Nine percent report having no option at all. And across both groups, nearly half say the method they used to bridge today’s gap made the next paycheck harder, setting off a cycle that resets every few weeks.”
At the same time, on-demand pay — a tool built to address this problem — remains largely unused despite being available to around 80% of workers, “pointing to a significant and addressable gap in awareness and product design,” the report continued.
