LenderClose Closes $10 Million Series B Round

LenderClose, a real estate and home equity lending technology platform, announced today that it has successfully closed a $10 million Series B funding round.

The West Des Moines-based company will use the funding to focus on the company’s rapid growth. Since its Series A in March 2018, the company has onboarded nearly 300 credit unions and community banks.

The investment comes from Next Level Ventures, Ardent Credit Union, Strata Credit Union, Tucson Federal Credit Union, Collins Community Credit Union, Financial Plus Credit Union, Serve Credit Union and Ascentra Credit Union.

“Our number one priority is growth. Growth in our people, our executive leadership, revenue and most importantly, maximizing value to our partners and users through innovative technology solutions,” said Omar Jordan, Lenderclose founder and CEO in a statement. “Real estate and home equity lending continues to be a friction-filled process. At LenderClose, our commitment to leveraging technology to bring continuous improvement across the real estate lending journey allows us to focus on what matters most, lenders’ efficiency and their borrower experience. This has never been more important as the pandemic accelerated the demand for LenderClose, specifically our contactless lending solutions such as remote online notarization (RON).”  

The company projects that it will double its clients by end of 2022 and nearly double its staff by Q4 2021.

Previous coverage

Next Level Ventures announces new investment fund for fintech companies in the credit union industry -Feb. 4, 2021

LenderClose kicks off Series B round with investment from Ascentra Credit Union -Feb. 20,2020

Next Level Ventures leads $1.3 million investment in LenderClose -April 17, 2018