Splash Raises $4.3M from CMFG Ventures & NM Future Ventures
Splash Financial has announced the close of a $4.3m funding round led by CMFG Ventures, the venture capital entity of CUNA Mutual Group, with participation from Northwestern Mutual Future Ventures, the corporate venture capital arm of Northwestern Mutual.
Splash is a student loan refinancing company backed by banks and credit unions that connects college graduates with online lending options to help refinance their student loan debt and reach financial freedom.
“Through this funding round, Splash has gained not only new investors but also strong partners in CUNA Mutual Group and Northwestern Mutual. Our mission at Splash is to help young professionals save money on their student loans, gain financial independence and make a splash in the world. Both CUNA Mutual Group’s and Northwestern Mutual’s values are rooted in financial wellness, and we are lucky to collaborate with such highly respected and accomplished companies.” – Splash Financial founder and CEO Steven Muszynski.
“We believe in the power of financial innovation to change lives, shape futures, and build a better tomorrow. Student loan refinancing is an important area of opportunity for financial institutions, so we’re glad to invest in this innovative loan refinancing platform. It’ll help millions of college students tackle student loan debt and connect them with financial institutions for long-term success.” – President and Managing Director, CMFG Ventures, Brian Kaas.
“By creating a product that meets the needs of an online generation entrapped in student loan debt, Splash is helping kickstart lifelong financial wellness. We believe Splash will help more young people get to the financial future they’re looking for.” – Venture Partner at Northwestern Mutual, Craig Schedler,.