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Splash Financial

Category: AI in Fintech

An AI-enabled lending marketplace that connects consumers with a network of credit unions and banks for various loan products including student loan refinancing, personal loans, and home equity lines of credit. Splash Financial was founded in 2013. The company is led by Steven Muszynski. Based in Cleveland, United States. Team size: 144. Total funding raised: $135M+ total (all rounds). Latest round: Series C ($70M, September 2025). Key investors include Grand Oaks Capital (Series C lead), First Tech Federal Credit Union, Curql Collective, The O.H.I.O. Fund, Citi Ventures, CMFG Ventures, Northwestern Mutual.

Founded
2013
Headquarters
Cleveland, United States
Team size
144
Total funding
$135M+ total (all rounds)

Value proposition

To simplify the loan application process and provide competitive interest rates by allowing consumers to shop and compare offers from multiple lenders in one place, quickly and without impacting their credit score, while providing credit unions and banks with modern technology to grow their lending programs

Products and solutions

Student Loan Refinancing, Medical School Loan Refinancing, In-School Student Loans, Personal Loans, Home Equity Line of Credit (HELOC)

Unique value

Splash Financial's uniqueness lies in its AI-enabled marketplace model that provides traditional lenders like credit unions and community banks with modern, digital platform capabilities to offer their loan products, creating a competitive environment that benefits borrowers while giving smaller financial institutions access to technology typically only available to large banks

Target customer

Individuals seeking to refinance student loans (especially medical school loans), take out personal loans, or access home equity lines of credit; primarily targeting consumers who want to compare competitive rates from multiple lenders

Industries served

Financial Services, Fintech, Credit Union Banking, Community Banking

Technology advantage

The company's key advantage is its AI-enabled lending platform featuring automated loan processing technology and proprietary decisioning models. This allows for a frictionless, fast, and entirely online borrowing experience for consumers while providing credit unions and banks with technology, models, and scale to efficiently grow their lending programs

How they differentiate

Splash Financial differentiates itself by acting as an AI-enabled lending marketplace specifically focused on connecting consumers with credit union and bank partners rather than direct lending. This model allows them to offer competitive rates through partnerships with community-focused financial institutions while providing these smaller institutions with enterprise-grade technology capabilities typically only available to large banks

Main competitors

SoFi, Earnest, Credible, LendingClub, Discover Student Loans

Key partnerships

Network of credit unions and banks including First Tech Federal Credit Union, Curql Collective members, Strategic partnerships with Ohio-based investors through The O.H.I.O. Fund, Marketing and affinity partnerships including past partnerships with Cleveland Browns

Notable customers

First Northwest Bancorp (First Fed Bank), Tennessee Credit Union League, Various credit union and bank partners nationwide

Major milestones

Secured over $70 million in Series C funding round (September 2025), Launched new home equity line of credit (HELOC) product (2025), Expanded network of credit union and bank partners, Processed over $6 billion in loans since founding, Opened over 100,000 accounts, Featured in Forbes America's Best Startup Employers (2023)

Growth metrics

Splash Financial has originated over $6 billion in loans, has over 100,000 accounts opened, and experienced a 52% annual increase in student loan volume. The company has 144 employees as of 2025

Market positioning

Splash Financial positions itself as a leading digital lending platform focused on helping consumers save money on their loans through comparison shopping. They emphasize a simple, fast, and entirely online process for comparing and securing financial products while empowering credit unions and community banks with modern lending technology

Geographic focus

Splash Financial is headquartered in Cleveland, Ohio, and primarily serves the United States market with a focus on expanding credit union and community bank partnerships nationwide

Patents and IP

Information on patents or specific IP is not publicly available

About Steven Muszynski

Founder and CEO of Splash Financial since 2013, with previous experience in General Electric's Financial Management Program (2009-2011), rotating through different business segments in a finance-intensive program. Graduated magna cum laude from The Ohio State University Fisher College of Business with a B.S.B.A. in Finance.

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