Cleveland, OH - Sep 17, 2025 (UTC) - Splash Financial, a leading AI-enabled lending marketplace, has secured more than $70 million in a Series C funding round and launched a new home equity line of credit (HELOC) product. The round was led by Grand Oaks Capital, with participation from First Tech Federal Credit Union, Curql Collective, The O.H.I.O. Fund, and existing investors.
With this latest funding, Splash has now raised more than $135 million in total equity funding since its founding and processed over $6 billion in loans. The Cleveland-based company connects consumers with a network of credit unions and banks through automated loan processing technology, helping traditional lenders deliver modern, frictionless borrowing experiences at competitive rates.
The funding will accelerate growth and strengthen Splash’s position as a premier destination for consumers seeking competitive rates from community-focused credit unions and banks. Since its founding, Splash has specialized in Student Loan Refinancing and Personal Loans, and with its expansion into home equity lines of credit (HELOCs), the company now offers homeowners a flexible way to access the value of their homes.
“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. “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.”
At the heart of Splash’s strategy is a mission to make people more powerful than their debt, with a focus on helping consumers achieve their financial goals at every stage of life. For some, that may mean refinancing student loans after graduation; for others, consolidating personal debt to simplify payments; and increasingly, tapping into home equity to fund major life events.
“Consumers today expect great rates and a frictionless experience, but many traditional lenders struggle to deliver that ‘wow’ factor,” said Dave Bovenzi, Chief Investment Officer at Grand Oaks Capital. “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.”
“At First Tech, we’re always looking for innovative ways to meet the evolving financial needs of our members,” said Greg Mitchell, President & Chief Executive Officer at First Tech Federal Credit Union. “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/owners with fast, flexible access to funds they need to secure a strong financial future.”
For credit unions, banks, and fintech partners, the expansion of Splash’s product ecosystem opens new opportunities to reach borrowers without significant upfront investment. By seamlessly connecting supply and demand through turnkey digital lending technology, Splash enables lenders to expand distribution while giving consumers faster and more affordable access to financial products.
“For credit unions that want a deeply mission-oriented partner focused on credit union success, Splash is a best-in-class solution,” said Nick Evens, President and CEO of Curql Collective. “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.”
About Splash Financial
Splash Financial, Inc. is a leading AI-enabled lending marketplace connecting consumers with a Splash-powered network of lenders through automated loan processing technology. Founded in 2013, Splash has originated over $6 billion in loans through its marketplace and established partnerships with credit unions and banks. With a mission to make people more powerful than their debt, Splash offers student loan refinancing, personal loans, and HELOC solutions. For more information, visit www.splashfinancial.com.
