Digital mortgage platform gets $108 million funding boost

Homeownership platform SimpleNexus has announced raising $108 million in a Series B funding led by global venture capital and private equity firm Insight Partners.

The capital infusion, according to a Press release, will help SimpleNexus maintain its rapid growth trajectory. To date, the SimpleNexus platform has handled over 13 million loans totaling over $3 trillion in volume, with a user base of more than 29,000 loan originators, 123,000 real estate agents, and more than three million borrowers.

President Cathleen Schreiner Gates added that the company will use the funds to “build on the momentum we received from bringing to market the best eClosing experience lenders and consumers have ever seen.”

The funding round is a follow-on investment from Insights Partners, which initially invested $20 million in the Utah-based tech firm in 2018.

“SimpleNexus’ innovative solutions continue to change the mortgage industry in exciting ways,” said Jeff Lieberman, managing director at Insight Partners. “CEO Matt Hansen and the SimpleNexus team are executing at a remarkable pace on their long-term vision of streamlining the path to homeownership. The SimpleNexus platform continues to strengthen, addressing key industry pain points while preserving lender flexibility, efficiency and simplicity. We are thrilled to support the company’s continued growth and excited by the partnerships they are creating to deliver a seamless homeownership journey.”   

Source: mpamag.com