Participated · Series B · Mar 2021

LenderClose provides a digital lending platform focused on automating real estate and home equity workflows for credit unions and community banks, including contactless tools like remote online notarization (RON). The company recently launched HEx (Home Equity Express), an automated loan processing solution that flags collateral-data exceptions for underwriting review. Proceeds from the Series B will fund R&D into process automation and the company’s goal of creating a fully integrated end-to-end lending solution from pre-close to post-close. LenderClose reports rapid customer growth: it onboarded nearly 300 credit unions and community banks since its March 2018 Series A and now has more than 300 financial institutions on its platform. Management projects it will double its FI client count by the end of 2022 and nearly double staff headcount by Q4 2021.