What is Splash Financial?
Founded in 2013 and headquartered in Cleveland, Ohio, Splash Financial operates as a technology platform that partners with credit unions and banks to facilitate student loan refinancing. By enabling consumers to save money on their student loans, the company addresses a critical need in the personal finance landscape. Its business model, which leverages strategic partnerships, positions it for scalable expansion within the fintech and lending sectors. The company's trajectory suggests a move towards broader market penetration and enhanced service offerings.
How much funding has Splash Financial raised?
Splash Financial has raised a total of $202.2M across 6 funding rounds:
Private Equity
$4.3M
Debt
$350K
Series A
$12.3M
Series B
$44.3M
Private Equity
$71M
Series C
$70M
Private Equity (2019): $4.3M with participation from Northwestern Mutual and CUNA Mutual Group
Debt (2020): $350K led by PPP
Series A (2020): $12.3M supported by CMFG Ventures , LLC and Northwestern Mutual
Series B (2021): $44.3M featuring Detroit, CMFG Ventures, City Ventures, DST Global Solutions, Northwestern Mutual Future Ventures, and Firebolt Ventures
Private Equity (2025): $71M, investors not publicly disclosed
Series C (2025): $70M with participation from Curql, First Tech Federal Credit Union, The OHIO Fund, and Grand Oak Capital Management
Key Investors in Splash Financial
Detroit
Detroit Venture Partners is a venture capital firm dedicated to supporting early-stage tech companies, aiming to drive progress and enhance Detroit's entrepreneurial ecosystem. They collaborate with visionary founders and leverage a broad network to ensure portfolio success.
CMFG Ventures
TruStage Ventures (formerly CMFG Ventures) is the venture capital arm of TruStage, focused on accelerating fintech growth by funding innovators in the financial services sector to enhance financial security and bring technology innovations to the credit union industry.
Curql
Curql is a collaborative platform that connects credit unions with fintech companies, facilitating joint investments into vetted fintech solutions to foster innovation and growth in the financial services sector.
What's next for Splash Financial?
The recent major strategic investment signals a new phase of growth for Splash Financial, likely focusing on expanding its technological capabilities, broadening its partner network, and increasing its market reach. This capital infusion is expected to fuel innovation in its refinancing platform and enhance customer acquisition strategies. As Splash Financial continues to mature, its focus will likely remain on providing accessible and cost-effective student loan solutions, solidifying its role as a key facilitator in consumer debt management and financial well-being.
See full Splash Financial company page
