Home financing platform Lenda has nabbed $5.25m in its Series A funding round led by SF Capital Group.
Other backers to the investment were Rubicon Venture Capital and CreditEase FinTech Investment Fund.
Lenda helps users complete home loans online in a quick, efficient and secure manner. Through the platform users can see if they are pre-approved and gain access to real-time mortgage rate quotes.
Launched in 2013, the company is currently in operation in California, Washington and Oregon. The platform has saved users a combined total of over $750,000 in fees and more than $5m in interest over the loan lifetime, according to the company.
This latest capital injection will be used to hire new staff for management positions, expand operations into more states, and increase investment into its platform.
Lenda Co-founder and CEO Jason van den Brand said, “Our mission at Lenda is to fix the broken mortgage finance system by simplifying the entire process and providing customers with what they want – honesty, simplicity and speed. Where middlemen like banks and brokers fail, we succeed.”
Total funding in to the company has reached up to $7.25m, with the company picking up a $2m investment in 2015.
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