Cascading AI, a forward-thinking fintech startup, has successfully raised $3.9 million in pre-seed funding, signaling a major milestone in its mission to transform the global banking industry with advanced AI technologies. Founded by alumni of Stanford University and Y Combinator, Cascading AI aims to unleash the potential of AI, unlocking an estimated $1 trillion in value for the banking sector.
At the forefront of Cascading AI’s innovative offerings is “Casca,” the world’s first AI-native Loan Origination System. With Casca, Cascading AI is revolutionizing the lending landscape by leveraging artificial intelligence to streamline and enhance the loan application process.
“The real game changer is our AI Loan Assistant, Sarah,” explains Lukas Haffer, CEO of Cascading AI. “Imagine a small business owner applying for a loan and receiving a response within minutes, guided by Sarah through the entire application journey. Sarah ensures that every applicant receives the care and attention they deserve, leading to significantly faster and more personalized loan processing.”
Already, Casca has demonstrated remarkable results, achieving nearly three times higher conversion rates and reducing manual effort in the back office by an impressive 90% compared to traditional methods.
“We’ve witnessed tremendous success with Casca, even in its early stages,” remarks Ryan Hildebrand, Chief Innovation Officer at Bankwell Bank, an early adopter of Casca. “Casca not only enhances lead quality but also streamlines the loan application process, bringing significant value to our operations.”
The pre-seed funding round was led by Peterson Ventures, a renowned investor in the vertical SaaS sector, known for its keen eye for disruptive startups. Notable participation also came from Y Combinator, The Sarah Smith Fund, and Clocktower Technology Ventures, reflecting strong support for Cascading AI’s vision for the future of banking.
With the fresh capital infusion, Cascading AI plans to expand its team of AI and machine learning experts, accelerate the development of the Casca product, and enhance its responsible AI capabilities. Additionally, the company aims to onboard a select group of new banking partners to further drive adoption of its innovative solutions.
“Our mission is to bring AI into reality, providing tangible benefits for banks while ensuring full compliance,” emphasizes Haffer. “We are committed to scaling up our installations and partnering with banks to revolutionize the loan origination process.”
Cascading AI’s Casca platform is poised to revolutionize banking by automating time-consuming tasks in loan origination, leveraging cutting-edge AI technology to reduce cycle times and increase operational efficiency. Built upon responsible AI practices, including human-in-the-loop monitoring, Casca represents the future of intelligent banking solutions.