has announced that it has secured the funding it needs to add 25 employees to its ranks. LenderClose’s latest round of funding was led by Next Level Ventures, a venture capital firm that invests in growing companies based in Iowa.
Since its launch in March 2016, LenderClose has added 100 lenders to its client list. February 2018 marked a record month of revenue for the startup, followed by another record month in March. That same month, the startup secured direct investment from two Iowa credit unions, and added Chief Operating Officer Ben Rempe to its team.
“This team has done some pretty impressive things with limited resources,” said Scott Hoekman, Co-Founder and Principal of Next Level Ventures. “This investment is gas in the tank that will allow LenderClose to do much more. LenderClose has a product that works, clients who have validated the solution and a growing team supporting the vision for rapid scale. You put more money alongside that momentum, and you’ve got something pretty exciting.”
LenderClose executives anticipate the platform’s technology will continue to advance over the next 12 to 18 months. Plans include the addition of artificial intelligence capabilities to the platform, as well as a consumer-facing mobile app to give consumers even greater visibility into the lending process as it moves from application to approval.