Startup lender Kashcade banks $5.5 million raise
Summary
Fintech Kashcade, a digital lender offering startup founders non-dilutive capital, has raised $5.5 million and it seeks to build out its loan book. ASX-listed Mad Paws Holdings (ASX:MPA) was one of its biggest clients, taking on a $1 million facility that was arranged in less than 48 hours. The fintech was cofounded by former Apple software engineer Patrick Nappa and ex -CBA lending strategist Alex Simmons, the CEO. Cofounder Patrick Nappa said they designed the software so it delivers a range of financial analytics insights to founders that would otherwise be time-consuming and difficult to calculate, such as growth rates, capital efficiency and trends in customer value. “By leveraging the same data used to make funding decisions, we can share with founders an in-depth view of their business’performance without them going to any real effort.
Funding
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