Splash Financial, a lending marketplace specializing in student loan refinancing, announced on September 19, 2025, the closure of over $70 million in Series C funding and the introduction of a new home equity line of credit (HELOC) solution.
Splash Financial, founded in 2013 by CEO Steven Muszynski, has now raised more than $135 million in total equity funding. This includes a $12.3 million Series A and a $44.3 million Series B. The company has processed over $6 billion in loans since its inception.
The latest Series C round was led by Grand Oaks Capital, with participation from First Tech Federal Credit Union, Curql Collective, and The OHIO Fund. Undisclosed existing investors, including CMFG Ventures, Northwestern Mutual Future Ventures, DST Global, Citi Ventures, Detroit Venture Partners, and Firebolt Ventures, also contributed to the funding.
Splash Financial’s core business connects graduate borrowers with banks and credit unions to secure competitive interest rates for student loan refinancing through an online application process. The company also facilitates personal loans through its network.
With the new capital, Splash Financial is broadening its product offerings to include a HELOC solution. A home equity line of credit allows homeowners to borrow against their home’s equity, functioning as a revolving line of credit. Through Splash Financial, users can access funding up to $500,000. This expansion aligns with a broader trend in the financial services sector, as evidenced by home equity lender Aven, which recently raised $110 million to further develop its HELOC offerings.
Steven Muszynski, CEO of Splash Financial, stated, “With this new equity capital, we’re expanding our credit union and bank network, supporting our partners with the tools they need to reach more borrowers and deliver a streamlined, competitive lending experience.”
