Mortgage lender Nexera Holdings has received what it’s calling a ‘significant growth investment’ from funds affiliated with global private equity firm Warburg Pincus.
The size of the investments and terms of the deal remain undisclosed.
Founded in 2014, Nexera operates two brands: consumer-lending portal Newfi and wholesale lending platform Bluestream.
The New York and Emeryville, California-based company aims to bring greater transparency to its loans and utilise automation around communication and document collection to make the lending process more efficient.
Nexera CEO Steven Abreu said: “We are proud to have Warburg Pincus behind our effort to build a premier lending platform that will uniquely drive diverse mortgage products across multiple business channels.”
“Our focus has been to transform the mortgage process while driving operating discipline and profitability. With this investment, we now have the backing to scale those fundamentals nationally.”
Warburg Pincus principal Eric Friedman said: “Steve and the team at Nexera are disrupting the traditional mortgage market by building a next-generation origination platform that simplifies the mortgage process end-to-end for customers, providing lower costs and faster processing.
“We are pleased to partner with Nexera’s management team and leverage their deep industry experience to build an innovative mortgage business of scale.”
The company will use the investment to further develop its technology platform and accelerate its expansion plans.
Copyright © 2017 FINTECH GLOBAL