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Goldman Sachs Leads $60 million Series C For Personal Loan Fintech Kashable

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Rishi Kumar, co-CEO and co-founder. (Courtesy photo)

Kashable, a fintech that provides access to “socially responsible” credit and financial wellness programs for employees as a voluntary benefit, has secured $60 million in a Series C funding round led by Goldman Sachs Alternatives ’ Sustainable Investing.

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Summary

Goldman Sachs Alternatives has committed up to $50 million to the round, including an initial $25 million investment and an additional $25 million to be funded in the coming months, subject to undisclosed conditions. Existing backers Revolution and EJF Ventures also participated in the financing, which brings New York-based Kashable’s total equity and debt raised to more than $450 million since its 2013 inception. The premise behind Kashable is that, since its loans are facilitated through an employer, the service can often offer better rates than a traditional bank might, making it a more appealing alternative to high-interest credit cards or payday loans.

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