LenderClose, a Des Moines, Iowa-based real estate and home equity lending technology platform, received $10m Series B funding round.
Backers included Next Level Ventures, Ardent Credit Union, Strata Credit Union, Tucson Federal Credit Union, Collins Community Credit Union, Financial Plus Credit Union, Serve Credit Union and Ascentra Credit Union.
The company intends to use the funds to continue to expand operations and its business reach and R&D into process automation.
LenderClose has experienced a rapid demand for its technology and innovative solutions, onboarding nearly 300 credit unions and community banks since its Series A in March 2018.
Led by Omar Jordan, founder and CEO, LenderClose is a technology-focused home equity and real estate lending platform to improve the lending process, enhancing the borrowing experience. The financial technology company recently launched its automated loan processing solution, HEx (Home Equity Express), built with a level of algorithm intelligence to ensure that the exceptions in the collateral data collected are earmarked for underwriting oversight and portfolio risk tolerance.
LenderClose currently has more than 300 credit unions and community banks on its platform from coast to coast.