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Monday, Mar 08, 2021

Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges

Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges

Digital lending start-up Blend raised $75 million in fresh funding at a valuation of almost $1.7 billion, a jump of more than 70% from its previous round a year earlier, CNBC has learned. Refinance application volumes jolted more than 1,000% higher in March, and purchase applications climbed by more than 100% every month since May, according to company figures. The Series F funding round was led by Canapi Ventures, a fintech VC fund that is backed by the banking industry and led in part by Gene Ludwig, a former U.S. regulator who founded the Promontory Financial Group.
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