Kashable, an employer-sponsored financial wellness platform offering payroll-integrated personal loans, has raised $60M in Series C funding led by Goldman Sachs Alternatives. The platform provides affordable credit to employees repaid via payroll deduction, serving over 4 million workers at more than 600 employers including Amazon and UPS. The capital will expand the platform and enhance financial wellness tools like coaching and credit monitoring.
Workplace Debt Facilities Expand
The raise arrives as competitors scale lending capacity: DailyPay upsized its credit facility to $960M in February 2026, while Salary Finance expanded its facility to £460M in January 2026. Kashable's equity round follows these debt expansions, highlighting investor appetite for employee financial access solutions. Goldman Sachs Alternatives committed up to $50M, with Revolution and EJF Ventures participating as repeat backers.
Stress Erodes Employee Productivity
Employee financial stress now affects 59% of workers' productivity, per PwC's 2026 survey, with younger generations hit hardest. Traditional options like payday loans or 401(k) withdrawals exacerbate issues, with 6% of participants taking hardship withdrawals in 2025, up from 2%. Kashable targets this by offering loans at rates from 6-36%, averaging $3.5K-$4K, repaid through payroll to minimize defaults.
Payroll Cuts Default Risks
Kashable's algorithmic underwriting combines employment data and credit scores for equitable access, funding nearly $2B in loans to date. Unlike earned wage access peers, it provides longer-term installment loans with lower rates due to payroll repayment. The model has kept the company profitable for years, with 40% YoY growth projected to $500M in loan volume for 2026.
As Co-CEO Rishi Kumar explained:
"Timely repayments through payroll reduce default rates, giving Kashable better unit economics…"
Goldman Sachs Leads Growth Capital
Goldman Sachs Alternatives, with $576B AUM and a focus on sustainable investing, led with up to $50M, signaling conviction in Kashable's low-risk model. Repeat investors Revolution—known for fintech like Tala and IPOs like CAVA—and EJF Ventures, specializing in enterprise fintech, add strategic depth. Total raised exceeds $450M in equity and debt, tripling valuation since January 2024 Series B.
Wellness Market Scales to Billions
The financial wellness software market stands at $3.3B in 2026 per The Business Research Company, with projections to $5B by 2030 at 11% CAGR according to Research and Markets. Competitors like BMG Money have secured $1B+ in debt facilities. Employer adoption of integrated lending rises amid inflation and retention pressures, positioning Kashable's B2B model for expansion.
Founders Earn Goldman Recognition
Co-founders and Co-CEOs Einat Steklov and Rishi Kumar, immigrants from Israel and India, bootstrapped Kashable since 2013 to $1B+ loan volume and a $250M credit facility. Both are three-time Goldman Sachs 10,000 Small Businesses award winners, blending business strategy and engineering ops expertise. Their track record underscores the platform's scaling from startup to profitable scaler.
Partnerships Fuel Platform Growth
Post-raise, Kashable partners with Creative Benefits for Educators for Florida public-sector access and joined Aptia Group's Amplify program for integrated benefits. Hiring includes a first VP of Account Management and Business Development Representatives in NYC and West regions. These moves support platform enhancements and national employer expansion, targeting sectors like healthcare and education.