LoanStreet Inc., a NYC-based fully-integrated online platform that streamlines the process of sharing, managing, and originating loans, closed a $6.5m Series A funding round.
The round, which brought total institutional investment to $9, was led by Valar Ventures, with participation from Third Prime Capital, Rosecliff Ventures, Ride Ventures, The Gramercy Fund, and Leland Hart, Sally Rocker, Rob Kiessling, Richard Levin, and other investors.
The company will use the funds to continue to expand its business reach.
Founded in 2013 and led by CEO Ian Lampl, LoanStreet offers a Saas based integrated lending solution that allows credit unions, banks, and alternative lenders to establish new sources of revenue, enhance balance sheet management, scale loan purchases and sales while strengthening financial and regulatory reporting.
Hundreds of financial institutions now use the company’s software solution.