CLEVELAND, Sept. 17, 2025 — Splash Financial, a prominent AI-powered lending marketplace, has successfully completed a Series C funding round, amassing over $70 million. This financial injection comes alongside the debut of a new home equity line of credit (HELOC) offering, marking a pivotal expansion in the company’s services.
Splash Financial has carved out a niche by linking consumers with credit unions and banks through innovative automated loan processing technology. This system not only enhances the borrowing experience but also enables traditional lenders to provide competitive rates efficiently. The substantial funding round was spearheaded by Grand Oaks Capital, with contributions from First Tech Federal Credit Union, Curql Collective, The O.H.I.O. Fund, and other existing stakeholders. With this latest investment, Splash Financial's total equity raised since its inception now exceeds $135 million, culminating in the processing of over $6 billion in loans.
"Splash provides credit unions and community banks with the technology, models, and scale to efficiently grow their lending programs," said Steven Muszynski, Founder and CEO of Splash Financial. The CEO emphasized, "With this new equity capital, we're expanding our credit union and bank network—supporting our partners with the tools they need to reach more borrowers and deliver a streamlined, competitive lending experience."
The company’s original focus on Student Loan Refinancing and Personal Loans allowed it to establish a solid foundation for helping borrowers secure favorable rates. The introduction of the HELOC product illustrates Splash Financial's commitment to adapting to homeowners seeking to leverage their property for financial needs.
Dave Bovenzi, Chief Investment Officer at Grand Oaks Capital, commented on the evolving landscape of consumer expectations, stating, "Consumers today expect great rates and a frictionless experience, but many traditional lenders struggle to deliver that 'wow' factor. We're excited to invest in Splash because they empower credit unions and banks to offer a modern, tech-forward lending experience that truly meets today's consumer expectations."
First Tech Federal Credit Union also sees the partnership as a strategic advantage in meeting the dynamic financial demands of its members. "At First Tech, we're always looking for innovative ways to meet the evolving financial needs of our members," said Greg Mitchell, President & CEO of First Tech. "By deepening our long-term partnership with Splash Financial, we're able to offer a streamlined, tech-enabled debt consolidation and HELOC solution that provides current and future members with fast, flexible access to the funds they need to secure a strong financial future."
For lending institutions like credit unions and banks, Splash Financial’s innovative product ecosystem presents substantial advantages, allowing them to engage with borrowers without the burden of significant upfront investments. This model effectively connects borrowers to a vast array of financial products through user-friendly digital lending technology.
Nick Evens, President and CEO of Curql Collective, encapsulated the benefits of this collaboration: "For credit unions that want a deeply mission-oriented partner focused on credit union success, Splash is a best-in-class solution. Splash's focus on leveraging AI and automated lending technology will enable strong growth across HELOC and Personal Loans, providing credit unions with new members and delivering a smooth borrowing experience."
Founded in 2013, Splash Financial aims to empower individuals by helping them manage their debt responsibly. The fintech company’s mission is clear: to make people more powerful than their debt, whether through refinancing student loans or accessing home equity lines for significant life events.
Looking ahead, Splash Financial's ability to secure a sizeable investment during a competitive fundraising environment underscores the potential for continued growth and innovation in the fintech sector. As it broadens its portfolio with the new HELOC product, the company is positioned to become an even more integral player in connecting consumers with vital financial resources.