Kashable, a financial technology company founded in 2013 that partners with employers to offer low-cost credit and financial wellness tools as an employee benefit, has joined the American Fintech Council (AFC), a trade association representing fintech companies and banks with more than 150 members. The membership connects Kashable to a group focused on financial health, consumer protection and policy frameworks for the sector.
Kashable's platform reaches more than 4 million employees and integrates with employers' HR and payroll systems. That integration lets the company underwrite loans based on employment data rather than relying only on traditional credit scores, which allows it to offer financing to employees who might otherwise draw from retirement plans or turn to higher-cost debt. The company also provides credit monitoring, financial coaching and education tools, and structures loan repayment so that it can help borrowers build their credit scores over time.
The membership follows a $60 million Series C funding round that Kashable raised recently, led by Goldman Sachs Alternatives. The participation of that fund reflects institutional interest in companies offering employer-integrated financial products.
"Kashable's approach to affordable credit meets workers where they are by integrating with employers to provide crucial financial flexibility, credit monitoring, and education," said Phil Goldfeder, CEO of the American Fintech Council. "Workers need clear and transparent access to affordable credit to meet life's unexpected expenses and invest in their futures. Kashable makes that happen as an employer-sponsored benefit, extending the workplace relationship to financial wellness and giving workers real alternatives. We are pleased to welcome Kashable to AFC as we collaborate on policy frameworks to support responsible innovation that brings consumers better choices and greater financial well-being."
"At Kashable, we believe employer-sponsored financial wellness should stand side by side with healthcare and retirement plans, as a core pillar of employee wellbeing," said Einat Steklov, Co-Founder and Co-CEO of Kashable. "Financial stress remains one of the leading drivers of employee turnover, absenteeism and lost productivity, making it imperative for employers to provide meaningful support to their teams. By collaborating with the American Fintech Council, we're helping shape a more responsible financial ecosystem: one that prioritizes innovation, consumer protection, and greater access to financial tools that empower working Americans to achieve long-term financial success."
