LenderClose, a technology developer for the lending space, has received an eight-figure Series B round.
The round was backed by Ascentra Credit Union and previous LenderClose backers Collins Community Credit Union and Serve Credit Union also joined the round.
This investment comes after strong growth from the company which culminated in it doubling its user base year-over-year.
LenderClose’s CEO Omar Jordan said the Series B investment initially began as an exclusive opportunity for previous backers but expanded after strong interest in the market.
The company offers a plug-and-play solution for credit unions and community banks which improves workflows and offers process automation. Its API integrations equips loan officers, processors and underwriters with a single hub for their needs.
Key features of LenderClose include e-recording, credit reports, valuation products, title products, real estate tax tracking, portfolio monitoring, notary signing services, loan documents, flood determinations and more.
Collins Community Credit Union CEO Stefanie Rupert said, “We’re seeing some revolutionary solutions produced by LenderClose, which allows our credit union to focus on member experience.
“This matters, as credit unions and community financial institutions are up against a new era of FinTechs, such as SoFi, Discover, Amazon and possibly Google Bank,” expanded Rupert. “The LenderClose vision aligns well with our objectives, which remain closely to providing the ultimate member experience.”
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