The O.H.I.O. Fund, a private investment advisory firm with a unique investment thesis focused on leveraging Ohio’s momentum to accelerate economic prosperity and growth across the state, today announced its participation in Splash Financial’s Series C funding round, supporting the fintech company’s continued growth and innovation. Just last month, The O.H.I.O. Fund announced its successful close of one of its funds, The Ohio Institutional Impact Investment Fund (Impact Fund), at $106 million in commitments. This milestone capped the firm’s first year in operation, during which it raised a total of $238 million in commitments, and executed 19 investments across the state.
Splash, a leading AI-enabled lending marketplace, has secured more than $70 million in this latest funding round and launched a new home equity line of credit (HELOC) product. Splash connects consumers with a network of credit unions and banks through automated loan processing technology, helping traditional lenders deliver modern, frictionless borrowing experiences at competitive rates. With this latest funding, Splash has now raised more than $135 million in total equity funding since its founding and processed over $6 billion in loans.
“Splash brings state-of-the-art lending capabilities to the long tail of credit unions and community banks—giving them the models, automation, and scale to serve borrowers in a way that has historically only been available to the largest bank institutions,” said Mike Venerable, Partner, The O.H.I.O. Fund. “We’re proud to back an industry-leading platform built in Ohio that expands access to competitive financial products for millions of consumers.”
The funding will accelerate growth and strengthen Splash’s position as a premier destination for consumers seeking competitive rates from community-focused credit unions and banks. Since its founding, Splash has specialized in Student Loan Refinancing and Personal Loans, helping borrowers get great rates and take control of their financial futures. With its expansion into home equity lines of credit (HELOCs), Splash now offers homeowners a flexible way to access the value of their homes.
“Splash provides credit unions and community banks with the technology, models, and scale to efficiently grow their lending programs,” said Steven Muszynski, Founder and CEO of Splash Financial. “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.”
The O.H.I.O. Fund has proven its strategy works. With Ohio on the cusp of major economic expansion, the state offers a wide range of scalable opportunities across industries and regions. From emerging ventures to transformative projects, demand for growth capital is strong – investing in Splash is just the latest example of how the Fund is delivering on its promises to the state of Ohio.
About The O.H.I.O. Fund
TOF Manager, LLC dba The O.H.I.O. Fund is a private investment firm committed to investing in and partnering with innovative entrepreneurs, business leaders, and co-investors who, like them, call Ohio home. With a unique investment thesis focused on leveraging Ohio’s momentum, The O.H.I.O. Fund supports growth in advanced manufacturing, biotech, real estate, infrastructure, and other sectors where Ohio leads. The team brings deep experience and a robust statewide network to connect leaders and unlock the state’s most promising opportunities.
About Splash Financial
Splash Financial, Inc. is a leading AI-enabled lending marketplace connecting consumers with a Splash-powered network of lenders through automated loan processing technology. Founded in 2013, Splash has originated over $6 billion in loans through its marketplace and established partnerships with credit unions and banks. With a mission to make people more powerful than their debt, Splash offers student loan refinancing, personal loans, and HELOC solutions. For more information, visit www.splashfinancial.com.
Important Information and Disclosures
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any securities in any private investment fund (the “Fund”) managed by TOF Manager, LLC (“The O.H.I.O. Fund” or the “Adviser”). Any such offering will be made solely to qualified investors through a confidential private placement memorandum and other offering documents, which should be reviewed carefully before any investment decision.
The O.H.I.O. Fund is an investment adviser to one or more private investment funds. References to investments, capital deployed, or portfolio companies reflect investments made by private funds advised by The O.H.I.O. Fund, not by the adviser itself. Interests in the private funds advised by The O.H.I.O. Fund are offered only to eligible investors and are subject to investor qualification requirements.
Statements about expected growth, anticipated revenue, production capacity, expansion plans, or future business prospects are forward-looking statements based on current expectations, assumptions, and market conditions. These statements are inherently uncertain and subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. There can be no assurance that projected outcomes, expectations, or plans will be achieved.
Past investments or portfolio company developments discussed herein are not indicative of future results. Investment performance varies, and no assurance can be given that any investment will achieve its objectives or avoid losses.
Comments or quotes from portfolio company representatives and references to portfolio companies, customers, or counterparties are provided solely for illustrative purposes and do not constitute an endorsement, guarantee, or recommendation. No representation is made that any investment strategy has been or will be successful.
This communication is not intended to be, and should not be construed as, investment, accounting, legal, or tax advice. Prospective investors should consult their own advisers before making any investment decision.
This press release is intended only for persons located in jurisdictions where distribution is permitted under applicable law. It may not be reproduced, distributed, or used for any other purpose without the Adviser’s express written consent.