WILMINGTON, N.C., Aug. 19, 2025 (GLOBE NEWSWIRE) — Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Cascading AI, Inc. (Casca), a loan application and origination platform using responsible artificial intelligence.
Live Oak Bank is working as a design partner with Casca to automate its Live Oak® Express loan process and plans to expand Casca across the franchise to accelerate workflows and ultimately provide an exceptional banking experience to customers.
“Businesses trust Live Oak Bank to provide a personalized, modern approach to lending, which is key to maintaining our leadership in the market. Casca simplifies and accelerates our lending processes while equipping us with the insights needed to build lasting relationships,” said Live Oak Chairman and CEO James S. (Chip) Mahan III. “The tangible value Casca has demonstrated gives us confidence to invest in their future.”
Casca will use this funding to scale its operations, expand its team, and accelerate go-to-market efforts.
“We’re driven to be a force for good, using technology to make capital more accessible to small businesses and fueling the American Dream,” said Lukas Haffer, CEO and co-founder of Casca. “Partnering with the top SBA lenders and key industry players, we’ve built a platform that fully automates loans in record time–setting a new industry standard.”
About Live Oak Ventures
Live Oak Ventures, a wholly owned subsidiary of Live Oak Bancshares (NYSE: LOB), is a fintech-focused investor that aims to bring innovation and performance excellence to the forefront of the banking industry. By investing in companies that accelerate the delivery of open digital solutions to the market, Live Oak Ventures intends to change the landscape of financial services and small business banking.
About Casca
Casca accelerates the loan application and origination process using responsible AI. It is used by the nation’s leading SBA lenders and FDIC-insured banks. Founded in 2023 by banking IT experts and AI researchers from Stanford University, Casca is backed by Y Combinator, Canapi Ventures, and Peterson Ventures. For more information, visit www.cascading.ai.
Contact:
Claire Parker
Live Oak Bank, Corporate Communications
910.597.1592
[email protected]
