LendingStandard, a Kansas City-based startup, has secured $6.7m in a fresh funding round.
By leveraging a technology-driven SaaS marketplace, the firm streamlines processes and boosts efficiencies, to the delight of lenders and borrowers alike.
This initiative recently culminated in a successful equity funding round, where LendingStandard managed to raise $6.7m, according to a report from Startland News. This round was spearheaded by Naples Technology Ventures (NTV), alongside key contributions from Flyover Capital, and existing investors.
Established in 2015, LendingStandard offers a singular platform to commercial real estate (CRE) lenders. This platform streamlines the loan process across all products, improving operational efficiencies by up to 45%. It is particularly effective in handling complex loans, making it a highly valuable asset in the commercial real estate finance sector.
The firm has garnered significant recognition, with three of the top 10 U.S. lenders utilising its platform. With this fresh round of funding, LendingStandard intends to rapidly expand its market share, shared CEO Andy Kallenbach.
Kallenbach highlighted the importance of this funding, stating that it would enable the firm to accelerate the development of its platform. He said, “This round of funding will help us push the platform — and our experienced enterprise team — forward faster.”
The firm has invested significant resources in revamping its platform over the years. Today, it supports not just underwriting, but also managing and optimising the entire commercial real estate process, from quote to close. LendingStandard’s platform also covers a broader range of loan types, from Fannie Mae and Freddie Mac loans to balance sheet lending.
Mike Abbaei, managing partner at NTV, also chimed in on the importance of LendingStandard in the current commercial real estate landscape. He commented, “At a tough time for the industry, commercial real estate lenders need to make the most of every single deal. Our team is proud to support LendingStandard in simplifying and modernising commercial real estate lending.”
Finally, as part of the funding deal, Frank Strauss, advisor at NTV, will join the LendingStandard board, alongside Keith Molzer, founding managing partner at Flyover Capital and board chairman at LendingStandard.
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