Splash Financial

Splash Financial

Connects borrowers with lenders for refinancings

Overview

Splash Financial connects U.S. borrowers with lenders to refinance student loans and personal loans, helping them find options that fit their finances. The platform matches borrowers with lenders offering competitive rates that can vary, and it does not guarantee loan approval or the lowest rate. A notable niche is medical resident refinance loans, available only to those in residency or fellowship programs. The service earns revenue by fees for arranging refinancings and aims to reduce borrowers’ interest costs and debt by matching them with suitable refinancing options.

About Splash Financial

Simplify's Rating
Why Splash Financial is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consumer Software

Fintech

Financial Services

Company Size

51-200

Company Stage

Series C

Total Funding

$139.6M

Headquarters

Cleveland, Ohio

Founded

2013

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Simplify's Take

What believers are saying

  • September 17, 2025 funding added over $70 million and $135 million total equity.
  • Splash has processed over $6 billion in loans, proving meaningful marketplace scale.
  • June 2026 HELOC availability across 20 states expands revenue beyond student-loan refinancing.

What critics are saying

  • Student-loan refinancing depends on rate cycles, and 2022 layoffs exposed demand fragility.
  • HELOCs create collateral and compliance risk across many state-specific lending rules.
  • Splash competes against SoFi, Figure, and bank-owned platforms with deeper balance sheets.

What makes Splash Financial unique

  • Splash combines borrower matching and automated underwriting with credit unions and banks.
  • Its September 17, 2025 Series C validated lender demand and product-market fit.
  • HELOC launch adds a second product line beyond student loan refinancing.

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Funding

Total Funding

$139.6M

Above

Industry Average

Funded Over

7 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$70M
Splash Financial
$100M
Oura

Benefits

Remote Work Options

Unlimited Paid Time Off

Paid Holidays

Company Equity

Health Insurance

Parental Leave

401(k) Retirement Plan

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
PR Newswire
Sep 17th, 2025
Splash Financial Raises $70M in Series C

Splash Financial announced it has raised over $70 million in a Series C funding round led by Grand Oaks Capital, with participation from First Tech Federal Credit Union, Curql Collective, The O.H.I.O. Fund, and existing investors. This brings Splash's total equity funding to over $135 million. The funds will support growth and the launch of a new home equity line of credit product. Splash has processed over $6 billion in loans since its founding.

Boone Newspapers Inc.
Sep 17th, 2025
Splash Financial Raises More Than $70 Million in Series C Round

CLEVELAND, Sept. 17, 2025 /PRNewswire/ - Splash Financial ("Splash"), a leading AI-enabled lending marketplace, today announced it has secured more than $70 million in a Series C funding round and launched a new home equity line of credit (HELOC) product.

Venture Capital
Sep 17th, 2025
Splash Financial Secures $70 Million in Series C Funding Round and Introduces HELOC Product

Splash Financial has raised over $70 million in a Series C funding round and launched a new home equity line of credit (HELOC) product, driving growth and reinforcing its position as a top choice for consumers seeking competitive rates.

Business Wire
Sep 4th, 2025
Thread Bancorp, Inc. Welcomes Dan Chang as New General Counsel and Chief Compliance Officer, Supporting Expansion of Embedded Banking Services

Chang joins Thread from Splash Financial, Inc. where he served as General Counsel and Chief Compliance Officer.

Intelligence360 News
Mar 4th, 2024
Splash Financial Has Filed A Notice Of An Exempt Offering Of Securities To Raise $7,002,249.00 In New Equity Investment.

Splash Financial has filed a notice of an exempt offering of securities to raise $7,002,249.00 in New Equity Investment.Frisco, Texas — According to state and local development sources, Thomson Reuters plans to invest $835,000.00 to build out 46,000 square feet of new space in Frisco. The company plans to occupy the new space at 6160 Warren Pkwy in Frisco, on or about July 1, 2024. According to the company website Thomson Reuters is the worlds leading provider of news and information-based tools to professionals. Our worldwide network of journalists and specialist editors keep customers up to speed on global developments, with a particular focus on legal, regulatory and tax changes. Our customers operate in complex arenas that move society forward tax, law, compliance, government, media. In a disruptive digital age, we help professionals reinvent themselves

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