LendingHome, a San Francisco, CA-based mortgage marketplace lender, raised $57m in Series C-2 funding.
Backers included Sberbank and Noah Holdings Limited.
The company intends to use the funds to expand the size of the engineering team and invest in the continued growth of digital mortgage product for homebuyers and property investors.
Matt Humphrey, co-founder and CEO, LendingHome provides mortgage marketplace for borrowers and investors which leverages proprietary technology platform and a team of seasoned real estate investment experts. The company serves borrowers looking for financing to purchase or refinance residential real estate properties and institutional and individual investors looking for access to attractive, high-yield real estate assets. Since it started lending in mid-2014, LendingHome has funded over $1.75 billion in mortgage loans.
The company also announced the close of the LendingHome Opportunity Fund II with $100 million in commitments from more than 40 investors including asset managers, international funds, family offices, and high net worth individuals. The fund will be managed by LH Capital Management, a wholly-owned subsidiary and registered investment advisor with the Securities and Exchange Commission, which will invest solely in residential bridge loans originated by LendingHome.
The company has more than 300 employees and has raised more than $165 million in equity financing.