LendingStandard Raises $2.5 Million to Provide Modern Solutions to Multifamily Lenders
KANSAS CITY, Kan. - Nov. 2, 2018 - PRLog -- LendingStandard, the automated LOS platform for the origination, underwriting, and processing of complex multifamily financings, today announced a $2.5 million Series A funding round led by Flyover Capital with participation from other undisclosed investors.
The company has emerged as the leading technology platform in the HUD space with industry leaders such as Berkadia, CapitalOne and Walker & Dunlop among its customers. In recent months the LendingStandard team has grown, with the company adding technology leadership and expertise from the multifamily industry as it looks to expand across key Fannie and Freddie lenders.
Providing Lenders Modern Solutions to Process and Underwrite Better Loans
LendingStandard provides agency-based lenders 200% to 400% ROI by automating lender checklists, underwriting narratives, and financial analyses. Bringing together the many partners, developers, investors, accountants, and attorneys into a single platform helps bridge communication, improve accuracy, and provides enterprise-level integrations within large institutions with multiple stakeholders.
"Multifamily finance is incredibly inefficient. We're providing lenders modern solutions to process and underwrite better loans," said Andy Kallenbach, CEO and founder of LendingStandard. "It's important to pair meeting the critical need for affordable and market-rate housing with sustainable, efficient, and smart lending."
This new funding will go toward developing increased functionality on LendingStandard's LOS platform and further expansion across lenders. Additionally, LendingStandard will continue to build out the team to support key additions to leadership, including Chief Technology Officer Chris Weber, and Vice President of Product Craig Hughey.
"This is really an exciting time to be with LendingStandard. Completing this round of financing not only confirms the work we've done," says Chad Summers, Director of Sales, "but more importantly, it puts us in a position to scale effectively right now, and handle all of the demand we are seeing in the marketplace."
Investor Thoughts on LendingStandard Series A Round
"We have been following this company for a long time and have been very impressed with the tenacity of Andy and the management team," said Keith Molzer, Managing Partner of Flyover Capital. "They are addressing a big pain point within the HUD space and are on track to be a major player supporting the large and ever-growing multifamily lending space."
"Over the past year they have accelerated growth, adding big names in the HUD space to their customer list," Molzer continued. "With the new round of capital, they are in a great position to expand the team and continue a strong growth trajectory in new lending verticals."
About Flyover Capital
Flyover Capital (www.flyovercapital.com) has been investing in innovative early-stage companies since 2015 and features several Kansas City entrepreneurs among its leadership, including Molzer, Thad Langford and Marty Bicknell. This marks the 16th investment for the firm with companies in nine states across "Flyover Country."
Founded in 2014, LendingStandard (www.lendingstandard.com) is the industry leader in automation and business process management solutions built specifically from the ground up for HUD, Fannie and Freddie lenders. The company offers a wide range of products and services designed to eliminate redundancy, create efficiency, and help its clients continue to grow their multifamily lending businesses.
Page Updated Last on: Nov 02, 2018