San-Francisco-based Blend has raised $100 million in Series D funding round led by Greylock, with participation from existing investors like Emergence
San-Francisco-based Blend has raised $100 million in Series D funding round led by Greylock, with participation from existing investors like Emergence Capital, 8VC, Lightspeed Venture Partners, and Nyca Partners.
Blend is an enterprise technology company that offers buyers and lenders faster, smarter and more secure application experience, as they stated on their official website.
“We’ve found a great partner in Greylock, not only because they’re one of the top venture capital firms in Silicon Valley, but also because of their history of success in helping take technology companies to the next level. “, commented Nima Ghamsari, CEO and co-founder of Blend in a blog post.
“Financial services is not an industry that has traditionally attracted top tech talent. This has led to the industry largely being underserved by Silicon Valley for years. But, at Blend, we’ve done a lot of work driving awareness of the need for innovation in financial services and made the company a place where top talent wants to work and can make an impact. “, as he added.
Founded in 2012, Blend has experienced radip growth, according to reports published at Tech Crunch (techcrunch.com) and PR Newswire (prnewswire.com).
“We started Blend in the wake of the financial crisis to bring simplicity and transparency to an industry that had long been underserved by technology, and had a compelling need for digitization.”, said Ghamsari as quoted by PR Newswire.
“Today, the impact of our intuitive, modern platform is felt by hundreds of thousands of borrowers across the country. Our partners command around 25 percent of the total U.S. mortgage market, and with this round of funding, we have the opportunity to expand the breadth of our product and serve more borrowers.”, as he elaborated.
The new funding will be used to accelerate innovation across the consumer lending system, while explanding staff and services outside the US in the near future, according to PR News` article.