Finance Breaking news Blend doubles valuation to $3.3 billion on $300 million fund round last financial news
Breaking-Finance.Com - US mortgage lending tech supplier Blend has closed $300 million in Series G funding led by Coatue and Tiger Global, nearly doubling its valuation to $3.3B in just five months.
Breaking-Finance.Com - US mortgage lending tech supplier Blend has closed $300 million in Series G funding led by Coatue and Tiger Global, nearly doubling its valuation to $3.3B in just five months. The fresh funding comes on the heels of a record year as the firm facilitated $1.4 trillion in mortgages and consumer loans in 2020 and added more than 200 new employees, increasing its headcount by over 60%.
. Wells Fargo, the largest bank retail mortgage originator in the US, was one of Blend's first contracts, and today approximately 75% of its mortgage originations come in through its digital application powered. The firm has recently branched out into the consumer loan and deposit markets with the aim of creating a technology platform capable of supporting all consumer banking needs. "Today's consumers expect Amazon-like experiences across the board, and Blend is well-positioned to help financial institutions achieve that," said John Curtius, a Partner at Tiger Global Management. "The company's momentum is a reflection of their rapid pace of innovation and deep commitment to helping their customers bring the simplicity and transparency consumers crave to the banking industry."
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