Digital lender Blend raises $300m in Series G funding round
US-based digital lending firm Blend has raised $300 million in a Series G funding round led by Coatue and Tiger Global.
The capital will “fuel Blend’s next phase of growth” and support investment in its products and services.
Blend has raised $665m so far
Blend says it helps streamline the customer journey for any banking product. It ranks Wells Fargo, BMO Harris Bank, and US Bank among some 285 customers.
Key elements of its offering include a “unified configurable platform” for mortgages, consumer loans, and deposit accounts. The firm also offers an “end-to-end” digital mortgage solution.
Blend claims to process more than $4 billion in mortgages and consumers loans per day. The new raise sees it double its value to $3.3 billion in five months.
“We’re working to build a smarter future for banking that delivers an end-to-end digital experience for any consumer banking product,” says Nima Ghamsari, Blend founder and CEO.
“We are helping our lenders be there as trusted advisors for their customers at every one of life’s milestones.”
The Series G is Blend’s largest to date. It has raised $665 million in total across nine rounds stretching back to 2012.
