Digital lending platform Blend has scored $300m in its Series G round, helping to nearly double its valuation to $3.3bn in just five months.
With the burst of funds, the company will enter the next phase of growth and further its investment into products and services.
Blend helps lenders to streamline the customer journey for any banking product from application to close. It offers a configurable platform for mortgages, consumer loans and deposit accounts as well as an end-to-end digital mortgage solution.
This funding comes after a strong year of growth for Blend, culminating in its technology facilitating $1.4trn in mortgages and consumer loans. It also added more than 200 new employees and increased its headcount by 60%.
Some of the clients the company added in 2020 include South State Bank, TCF National Bank, FirstBank, Evergreen Home Loans, and Idaho Central Credit Union.
Blend founder and CEO Nima Ghamsari said, “We’re working to build a smarter future for banking that delivers an end-to-end digital experience for any consumer banking product and an optimal homebuying journey from start to close.
“No consumer dreams about applying for a home equity line of credit or a mortgage – they’re looking to create a dream kitchen or purchase their first home. We are helping our lenders be there as trusted advisors for their customers at every one of life’s milestones.”
Last year, the company reached a $1.7bn valuation after the close of a $75m investment round. The round was led by Canapi Ventures.
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