Blend, a San Francisco, CA-based provider of digital lending solutions, secured $75m in Series F funding.
The round, which brings valuation to nearly $1.7 billion, was led by Canapi Ventures, with participation from existing investors Temasek, General Atlantic, 8VC, Greylock, and Emergence.
The company intends to use the funds to accelerate the development of its unified digital platform.
Blend provides a unified digital platform for mortgages, consumer loans, and deposit accounts. The Digital Lending Platform streamlines the journey from application to close for any banking product, enabling lenders to acquire more customers, increase productivity, and deepen customer relationships.
The company is launching new products, including its digital closing solution for mortgages and home equity loans, a mobile app for loan officers, and new reporting tools for lenders. It also announced its expansion into consumer banking and a new offering for auto loans in late 2019.
The company has a base of more than 250 lender customers which process over $3.5 billion in consumer loans each day, totaling more than $771 billion in loan volume this year to date.
FinSMEs
12/08/2020