Casca, formerly known as Cascading AI, is a loan-origination platform founded in 2023 by banking-technology and AI researchers connected to Stanford University, including CEO Lukas Haffer. The company went through Y Combinator's Summer 2023 batch and has raised $33 million across its funding rounds, including a $29 million Series A led by Canapi Ventures.
The platform automates the manual side of business-loan origination for FDIC-insured banks and non-bank lenders: an AI assistant, internally named Sarah, guides small-business applicants through the application, reads financial documents, the company claims it can process 10,000 pages in five minutes, and drafts credit memos for underwriters. Casca reports this cuts manual origination effort by around 90% and lifts lead-to-application conversion by roughly 3x for its bank customers.
Casca is built for FDIC-insured banks and fintech lenders processing business-loan applications at volume, not individual borrowers. Customers include Live Oak Bank and Huntington National Bank. Pricing is not published, the company sells through a direct sales process with custom enterprise contracts.
