Blend receives $100m Series D

Consumer lending platform Blend has received $100m in its Series D funding round led by Greylock Partners.

Other contributors to the round included Emergence Capital, 8VC, Lightspeed Venture Partners and Nyca Partners.

Founded in 2012, Blend is a marketplace lending platform helping consumers apply for a home loan by connecting borrowers and lenders quickly.

Over the past year the California-based company has tripled its customer base, which includes Wells Fargo and Movement Mortgage. The platform has helped over $30bn worth of mortgage applications, according to the company.

This capital injection will be used to boost innovation across the lending ecosystem around the world. The funding will also be used to increase staff numbers, expand operations internationally and creating more loan services.

Greylock Partners partner Jerry Chen said, “We saw a massive opportunity in Blend and the work they are doing to deliver transparent, frictionless, accessible mortgages for everyone. Banks and lenders understand the need for innovation, but they can’t do it alone.

?Blend is in a unique position to change the consumer lending industry with an unparalleled team of engineers, designers and product and data experts committed to helping people along their homebuying journey.”

Total funding into the company has reached $166m, with its Series C bagging $40m early last year.

Copyright ? 2017 FinTech Global

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