Startup raises $130 Million in Series E Funding in One-tap Mortgages and Consumer Loans

By StartUp City | Tuesday, July 09, 2019

Nearly $2 billion loans every day in partnership with more than 150 lenders, Blend discloses the expansion of product in home equity and insurance.

FREMONT, CA: Blend, a Silicon Valley leading digital platform startup, has announced the raising of Series E funding of $130 million in one-tap mortgages led by Temasek and General Atlantic. Investors include Founders Fund, Greylock Partners, and Lightspeed Venture Partners contributed to the funding, brings the company’s total raising to $310 million.

In Association with the fundraising, Blend named Ann Mather, former Pixar CFO to an independent board member position. Currently serving the position boards of Alphabet, Airbnb, and Netflix, Mather is meant to bring exceptional expertise in her role.

According to Nima Ghamsari, CEO at Blend stated, “As we build toward a more transparent and frictionless future where lending transactions happen in one tap, we’re grateful to have the experience of Mather, along with the teams at Temasek and General Atlantic, in our corner for this journey.”

By bringing simplicity and transparency to consumers through one-tap experience, Blend continues to grow their employee participation to 400 by helping the financial institution to maintain their healthy relationship with clients.

Paul Stamas, Managing Director at General Atlantic, a leading global growth equity firm,  stated, “Blend’s technology platform is driving an evolution in how lenders do business and interact with their clients. Blend’s approach of partnering with financial institutions to reimagine consumer finance has proven hugely successful thus far, and we’re thrilled to assist them in their next phase of growth.”

Increasing productivity and delivering exceptional customer experiences, Blend helps financial firms including, Wells Fargo and U.S., Blend have raised a total of $ 310 million since its inception from 2012.

“Together with our partners, we’ve made significant strides in transforming lending experiences for consumers and institutions across the country,” added Ghamsari.

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