Online mortgage lender Lenda has expanded into another state following the close of a funding round earlier in 2018.
The company’s services are now available in Virginia, which adds to Lenda’s existing markets of Illinois, Pennsylvania, Michigan, Arizona, Florida, and Georgia. Following the expansion, Lenda now serves customers in 65% of the mortgage market.
The announcement follows the company’s approximately $5.3 million series A financing that was led by SF Capital Group. Additional investors included CreditEase Fintech Investment Fund and inside investor Rubicon Venture Capital.
Lenda used the funding to drive continued growth, fill key management positions, and increase investment in its software platform.
Co-founder and CEO Jason van den Brand said that the company plans to expand into additional markets soon. Lenda combines proprietary technology with a digital loan officer model that allows quick loan application evaluations, faster loan completions, and costs savings.
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