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Summary List Placement

When it comes to consumer banking, the offerings and services involved run the gamut from the most basic of checking accounts to highly-personalized home loans and specialty vehicle auto loans. Accessing them all in one place via a seamless, online user experience, however, isn’t always easy.

That’s one of the new focuses of digital-lending startup Blend.

On Wednesday, San Francisco-based Blend announced a new fundraising round that brought the company’s valuation to $3.3 billion, a near doubling of its valuation since it last raised money five months ago in August.

See more: Machine-learning powered mortgage startup Blend overshot its expectations with a $130 million fundraise. Their CFO explains how they pulled it off.

Blend works with traditional lenders — such as Wells Fargo, US Bank, and Navy Federal Credit Union — to streamline their process of offering and managing mortgages and loans via digital channels. 

The $300 million Series G round was led by Coatue Management and Tiger Global, whose past experience investing in software companies like Hinge Health and Rapyd appealed to Blend’s founder and CEO, Nima Ghamsari.

Previous investors include Canapi, who joined the company’s Series F round in August. 

“We are a software company and so I wanted to get …read more


Source:: Businessinsider – Finance

      

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