Digital lending platform StreamLoan has picked up $2m in a Seed funding round.
Backers to the round included Acorn Pacific Ventures, Whitespace Capital, former Barclays Mortgage Bank CEO Steve Weston and Rajiv Krishnarao, Uber finance director.
San Francisco-based StreamLoan is a mobile lending platform that supports the entire mortgage process from point of intent through to the close. The platform helps to connect borrowers, lenders, real estate agents and home purchase stakeholders together, to streamline the mortgage process.
Through the application, clients can simplify collection, review and approval of borrower documents and speed up underwriting tasks by having cleaner loan files. StreamLoan, which was founded in 2015, also offers data encryption, automatic audit trails, real-time data from banks and insurance companies, and workflow automation, among other solutions.
Former Barclays Mortgage Bank CEO Steve Weston said, “The first thing that caught my attention was the sophistication of the StreamLoan platform and the amazing capability it brought to lenders.
“But what made me really excited about investing was how the company brought together Silicon Valley’s best innovation with the deepest possible insider knowledge of the mortgage and real estate industries to deliver a more complete solution, more efficiently, than many rivals.”
Earlier in the week, Argentina-based Properati netted an undisclosed investment from Big Data Scoring. The company helps connect real estate buyers and sellers across Latin America, and this capital will support the launch of its mortgage comparison solution.
Last week, Australian digital mortgage solution provider Home Loans closed a $25m investment from Westpac to support the development of its products and scaling the business.
Copyright © 2018 FinTech Global
