Lendesk, a Canada-based mortgage fintech, announced on Tuesday it has acquired mortgage origination platform Finmo Financial Technologies. According to Lendesk, Finmo helps mortgage professionals offer their clients a truly digital experience.
“Finmo’s proprietary Smart Docs algorithms allow brokers to automatically request necessary documents from their clients as part of an intuitive digital mortgage application process. Then, the platform converts client uploads to PDFs, making the materials easier for brokers and lenders to view and manage.”
Lendesk further explained Finmo is backed by top brokers in Canada that have provided investment, feedback, and support as it has grown. The brokers will continue to back the newly combined platform. Alex Conconi, Founder and CEO of Lendesk, spoke about the acquisition by stating:
“At Lendesk, we have been very focused on the experience of brokers and lenders – constantly finding new ways they can work together more efficiently to achieve their common goal of a streamlined mortgage process. Now, with this acquisition, we have extended that experience beyond brokers and lenders, to improve the experience of their clients: homebuyers and homeowners. Mortgage professionals who work with Lendesk can already find the best deal for their clients with Spotlight, and now they can provide the best mortgage experience using Finmo’s digital origination platform.”
Founded in 2013, Lendesk is on a mission to create graceful products that simplify the mortgage process, and help fund the future.