Blend, a U.S.-based mortgage tech company, announced on Monday it secured $130 million through its Series E funding round, which was led by Temasek and General Atlantic. Founded in 2012, Blend claims it works with banks and lenders to power frictionless, compliant, and more accessible lending.
Blend reported in addition to the funding, it has experienced an eventful first half of 2019. The company released digital HELOC and HELOAN products and deposit accounts. The company also expanded its partnership with Salesforce and brought in new leadership in product, marketing, and engineering. Speaking about the investment round, Nima Ghamsari, Founder and CEO at Blend, stated:
“Together with our partners, we’ve made significant strides in transforming lending experiences for consumers and institutions across the country. As we build toward a more transparent and frictionless future where lending transactions happen in one tap, we’re grateful to have the experience of Ann, along with the teams at Temasek and General Atlantic, in our corner for this journey.”
Funds from the Series E round will be used for continuing growth of Blend’s team of nearly 400 employees to help financial institutions deepen their relationships with clients, bringing simplicity and transparency to consumer lending through one-tap experiences. The company added:
“In addition to doubling down on its efforts to digitize the entire mortgage process from application to close, Blend plans to invest in new technologies, grow its ecosystem of partners, and further its expansion into a broader suite of consumer lending products.”