LendingStandard closes $6.7M equity round led by Naples Technology Ventures
Kansas City, Kan. (PRWEB) June 06, 2023 -- LendingStandard has completed a $6.7 million round of equity funding, led by Naples Technology Ventures (NTV) with participation from Flyover Capital and existing investors.
From the smallest firms to the largest enterprises, LendingStandard offers commercial real estate (CRE) lenders a single platform to manage the loan process across all their products. The company’s comprehensive commercial real estate finance platform increases efficiencies by up to 45 percent for clients working with some of the most complex loans.
The LendingStandard platform is used by three of the top 10 U.S. lenders, and the company looks to rapidly expand its market share with this new round of capital.
In recent years, LendingStandard has meticulously rebuilt its platform to support not just underwriting, but managing and optimizing the entire commercial real estate process from quote to close. The company’s next-generation platform has also expanded to cover a larger spectrum of loan types, from Fannie Mae and Freddie Mac loans to balance sheet lending.
“We’ve had amazing feedback from our prospects and clients over the last few years, and that input has driven us to reimagine how we can expand to serve the commercial real estate industry more robustly,” said Andy Kallenbach, LendingStandard CEO. “This round of funding will help us push the platform — and our experienced enterprise team — forward faster.”
Plagued by outdated, complex methods, the commercial real estate lending process is far more complicated than the process for consumer-focused loans. LendingStandard streamlines those processes, reducing wasted time and frustration for both lenders and borrowers.
“At a tough time for the industry, commercial real estate lenders need to make the most of every single deal,” said Mike Abbaei, Managing Partner at NTV. “Our team is proud to support LendingStandard in simplifying and modernizing commercial real estate lending.”
“LendingStandard has listened and responded to what the market needs,” said Keith Molzer, LendingStandard Board Chairman and Founding Managing Partner at Flyover Capital. “As one of their earliest investors, we’ve seen them grow and are eager to watch their next steps.”
Frank Strauss, Advisor at NTV, will join the LendingStandard board alongside Molzer. Strauss will bring his deep expertise in business strategy, M&A, financial, regulatory, technology, operational, and sales and marketing functions to LendingStandard.
About LendingStandard
Founded in Kansas City, Kansas in 2015, LendingStandard is a technology-driven SaaS Marketplace company that provides solutions to Commercial Real Estate (CRE) lenders. The industry’s first comprehensive, cloud-based CRE origination platform that provides our clients with a single solution to manage origination and underwriting across ALL loan products – saving time and reducing errors. For more information, visit lendingstandard.com.
About Naples Technology Ventures
Naples Technology Ventures is a Venture Capital Firm that invests in early-stage technology and services companies. NTV looks for companies that show strong value-add and demonstrate being in emergent and/or expanding markets with both Software-As-A-Service (SaaS) and/or a Services-based model. NTV focuses on investments in Series Seed and Series A+ rounds. For additional information visit http://www.naplestechnologyventures.com or email us at [email protected].
Andy Kallenbach, LendingStandard, http://lendingstandard.com, 1 866-981-5883, [email protected]
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