Digital Lending specialist Blend Raises $130 Million in Series E Funding

Nima Ghamsari, Founder and CEO, Blend

Blend, the digital lending company headquartered in San Francisco, has announced it has raised $130 million in Series E funding led by Singapore based investment company Temasek and global growth equity firm General Atlantic. Existing investors 8VC, Founders Fund, Greylock Partners, and Lightspeed Venture Partners also participated in the round, which brings the company’s total funding to $310 million.

“Blend’s technology platform is driving an evolution in how lenders do business and interact with their clients,” said Paul Stamas, managing director at General Atlantic. “Blend’s approach of partnering with financial institutions to reimagine consumer finance has proven hugely successful thus far, and we’re thrilled to assist them in their next phase of growth.”

The financing comes at a time of major momentum for Blend which now routinely processes nearly $2 billion in loans every day in partnership with more than 150 lender customers. The company recently announced product expansions into deposit account opening, home equity, and homeowners insurance, along with a slew of high-level additions to its executive team. Blend has also named former Pixar CFO Ann Mather, currently serving on the boards of Alphabet, Airbnb and Netflix, to an independent board member position.

“Together with our partners, we’ve made significant strides in transforming lending experiences for consumers and institutions across the country. As we build toward a more transparent and frictionless future where lending transactions happen in one tap, we’re grateful to have the experience of Ann, along with the teams at Temasek and General Atlantic, in our corner for this journey.,” said Nima Ghamsari, founder and CEO at Blend.

With the new capital, Blend intends to continue growing its team of nearly 400 employees to help financial institutions deepen their relationships with clients, bringing simplicity and transparency to consumer lending through one-tap experiences. In addition to doubling down on its efforts to digitize the entire mortgage process from application to close, Blend plans to invest in new technologies, grow its ecosystem of partners, and further its expansion into a broader suite of consumer lending products.

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