Blend
| Private | |
| ISIN | 🆔 |
| Industry | Financial technology |
| Founded 📆 | May 1, 2012 |
| Founders 👔 | Erin Collard Eugene Marinelli Nima Ghamsari |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
Key people | Nima Ghamsari (Chief Executive Officer) |
| Members | |
Number of employees | |
| 🌐 Website | blend |
| 📇 Address | |
| 📞 telephone | |
Blend is a financial technology company. It uses data integration software to digitize pay stubs, tax forms and bank statements. The company was founded in 2012 and is headquartered in San Francisco, California.[1]
It has partnered with big banks including U.S. Bank and Wells Fargo,[2] as well as government-sponsored enterprises Fannie Mae and Freddie Mac.[3] The company imports borrowers' financial information in order to decrease mortgage application wait times.[4]
History[edit]
The company was founded in 2012 by a group of former Palantir engineers.[5] Its name is an amalgam of "better" and "lending".[6][7] Blend raised $40 million in Series C funding in January 2016 in a round led by Founders Fund, Lightspeed Venture Partners and Formation 8.[8] In 2017, the company received an additional $100 million in funding led by Greylock Partners.[9]
In February 2018, Blend was named by Fannie Mae as the first online point of sale system to supply asset validations on its list of Day 1 Certainty report suppliers.[10][11]
Blend's customers control more than 25 percent of the United States mortgage market.[12] The company was listed on the Forbes Fintech 50 for 2018.[13] In September 2018, the company announced that former Treasury Secretary Jack Lew would chair its advisory board.[14]
Technology[edit]
In 2018, the company created the Blend Marketplace for companies to integrate mortgage workflow tools.[15] It also developed Blend Vision technology to digitize paper documents.[16]
Blend Intelligence, a predictive engine for mortgage origination automation, was released in 2018.[17] Blend introduced its app on Salesforce AppExchange.[18]
Blend has partnerships with companies including Wells Fargo, MetLife, Flagstar Bank, Lennar[19] and Black Knight.[20]
Further reading[edit]
References[edit]
- ↑ Rao, Leena (20 January 2016). "Blend Wants To Approve Mortgages In Minutes, Not Weeks". Fortune.
- ↑ Rooney, Kate (14 September 2018). "After the crisis, a new generation puts its trust in tech over traditional banks". CNBC.
- ↑ Moore, McKenna (25 September 2018). "This Tech Company Is Trying To Make Mortgages More Accessible". Fortune.
- ↑ Harris, Ainsley (14 July 2017). "5 Startups Changing How Americans Buy Their First Home". Fast Company.
- ↑ Feldman, Amy (26 September 2017). "Blend Wants To Bring The $2 Trillion Mortgage Market To The Modern Era". Forbes.
- ↑ Taruc, Paolo (7 August 2018). "Mortgage lending platform Blend launches insurance division". Insurance Business.
- ↑ Pressman, Aaron; Lashinsky, Adam (25 July 2018). "Data Sheet—Automating Away the Long, Annoying Mortgage Application Process". Fortune.
- ↑ Zerucha, Tony (25 January 2016). "Mortgage fin-tech Blend celebrates $40M Series C". Bankless Times.
- ↑ Lawler, Ryan (24 August 2017). "Mortgage technology provider Blend raised another $100 million led by Greylock". TechCrunch.
- ↑ Sinnock, Bonnie (13 February 2018). "Fannie taps Blend to expand Day 1 Certainty's digital mortgage options". National Mortgage News.
- ↑ Casperson, Nicole (18 February 2018). "Blend to Further Digital Mortgage Process With Fannie Mae". Daily Dose.
- ↑ Verhage, Julie; Chiglinsky, Katherine (6 August 2018). "Mortgage Startup Blend to Offer MetLife Policies With New Unit". Bloomberg.
- ↑ Sharf, Samantha (13 February 2018). "Forbes Fintech 50 2018: The Newcomers". Forbes.
- ↑ Rooney, Kate (13 September 2018). "Former Treasury Secretary Jack Lew to advise mortgage start-up Blend". CNBC.
- ↑ Sharf, Samantha (17 April 2018). "In Fight To Make Mortgages More Nimble, Blend Bets On Partners". Forbes.
- ↑ Ramírez, Kelsey (21 June 2018). "Blend launches tech to help lenders keep origination costs down". Housing Wire.
- ↑ Monfort, Francis (19 September 2018). "Blend launches predictive engine for mortgage automation". Mortgage Professional America.
- ↑ Monfort, Francis (3 October 2018). "Blend rolls out digital lending app on Salesforce AppExchange". Mortgage Professional America.
- ↑ Truong, Kevin (28 March 2018). "Lennar is the latest big name to partner up with this red-hot San Francisco fintech". San Francisco Business Times.
- ↑ Swanson, Brena (23 October 2017). "Blend's digital mortgage platform integrates with Black Knight". Housing Wire.
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