Canapi Ventures is leading a Series A funding round for Casca, an AI-driven loan origination platform aimed at improving access to capital for small businesses by streamlining the loan application process.

Information on the Target

Casca, short for Cascading AI, is an innovative loan origination system designed to facilitate a seamless and efficient lending process for both borrowers and banks. It automates various stages of the loan application process and aims to address the common frustrations faced by small business owners seeking capital. By integrating artificial intelligence, Casca enhances the borrowers' experience while streamlining the banks’ workflows, making the process quicker and more straightforward. This innovative platform is tailored to meet the unique demands of modern lending, allowing banks to serve their clients better.

Industry Overview in the Target’s Specific Country

The small business sector constitutes nearly half of the economic activity in the United States, yet traditional banks often struggle to meet their financing needs effectively. Frequently, small business owners encounter cumbersome application processes, with many banks failing to provide user-friendly online loan application systems. As banks have focused on refining credit models and risk assessment, they have neglected the front-end experience, leaving borrowers to navigate complex documentation with little guidance.

This gap in service leads many potential borrowers to abandon their applications in frustration, often turning to non-bank lenders that offer fast approvals at exorbitant interest r