• FOUNDING YEAR: 2012
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    9 Sep, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Online Home Refinancing. Helps individuals to avoid hefty commission charged by brokers and steep margins charged by financial institutions.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Refinancing mortgages and online retailers
COMMENT
Lenda claims that it can close loans in 17 days, nearly 3.5 times faster than the industry average of nearly two months by using proprietary technology to evaluate loan applications quickly. The company uses an automated algorithm which helps the home buyers with suitable loans using details like credit scores, current mortgage and the estimated value of the home. Online tools such as real-time rate quotes, e-signature platforms for paperwork, and secure document upload portals allow users to breeze through the process without telemarketing or excessive paperwork.

PEOPLE

FOUNDERS:
Elijah Murray, Jason van den Brand, Chris Piro
Board Members and Advisors:
Poornima Vijayashanker, Joshua B Siegel
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
Sam Melamed, ZenStone Venture Capital, Rubicon Venture Capital, Cherry Ventures, Naval Ravikant, SK Ventures, Scott Banister, Structure, Jared Kopf, Winklevoss Capital Management, Tom Fallows, Cyan Banister, China Growth Capital, Dheeraj Sanka, Nima Ghamsari, Rosco Hill, Rahul 'RJ' Jain, Dirk Herzbach, Rob Ingenthron, Monthly Ventures, Startup Monthly, Monthly Ventures, Rahul 'RJ' Jain, 500 Startups, Dheeraj Sanka, Rosco Hill, Dirk Herzbach, Chris Piro, Jason van den Brand, First Ascent Associates

TRACTION

VALUATION / MARKET CAP:
$10.27 MM in 2015
TRANSACTIONS VALUE:
$30 MM

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$7.25 Millions
DATE OF LAST FUNDING:
Sep 2017
SEED & PRIOR FUNDING:
$2 Millions
SEED CLOSED ON:
Sep 2017
SEED PRIOR FUNDING COMMENT:
Plus undisclosed amount
FUNDING SERIES:
SERIES A
$5.25 Millions Closed: Sep 2017
LISTED:
NO

LATEST RESEARCH