SimpleNexus, a Lehi, Utah-based company that brings the home mortgage process to mobile devices through a dynamic digital mortgage platform, raised $20m in growth capital.
Insight Venture Partners made the investment.
The company intends to use the funds to accelerate itd continued growth and expansion.
Led by Matt Hansen, founder & CEO, and by Joe Wilson, Chief Marketing Officer, SimpleNexus provides a private-label digital mortgage platform and mobile app that connects mortgage lenders with borrowers and real estate agents, allowing all parties to exchange data and documents through the lifecycle of a mortgage loan. The online application is custom branded to the lending institution and includes individual pages for each loan officer to share.
Through its smartphone app, loan officers are able to view new loan applications instantly, pull and view credit reports, run live pricing scenarios, see a live CRM feed and send pre-approval letters, as the app connects real-time with their LOS.
Today, SimpleNexus serves more than 180 enterprise mortgage companies and more than 17,000 loan officers nationwide. Over $100 billion in transactions have flowed through the platform.