Blend, a San Francisco, CA-based digital lending technology company, raised $130m in Series E funding.
The round, which brought total funding to $310m, was led by Temasek and General Atlantic, with participation from existing investors 8VC, Founders Fund, Greylock Partners, and Lightspeed Venture Partners.
The company itnends to use the funds to:
– continue growing its team of nearly 400 employees to allow financial institutions deepen their relationships with clients,
– invest in new technologies,
– grow its ecosystem of partners, and
– further its expansion into a broader suite of consumer lending products.
Led by Nima Ghamsari, founder and CEO, Blend provides a digital lending platform for financial institutions including Wells Fargo and U.S. Bank to increase productivity and deliver improved customer experiences.
The company regularly processes nearly $2 billion in mortgages and consumer loans daily, in partnership with more than 150 lender customers.
Blend recently announced product expansions into deposit account opening, home equity, and homeowners insurance, along with a slew of high-level additions to its executive team, including former Fannie Mae CEO Tim Mayopoulos.