SimpleNexus Raises $20 Million in Capital From Insight Venture Partners

SimpleNexus has announced that it has raised $20 million in growth capital from Insight Venture Partners to accelerate continued growth and expansion.

 

SimpleNexus provides a private-label digital mortgage platform and mobile app that connects mortgage lenders with borrowers and real estate agents, allowing all parties to easily exchange data and documents through the lifecycle of a mortgage loan. The online application is custom branded to the lending institution and includes individual pages for each loan officer to share.

 

“Our unprecedented growth clearly demonstrates the leading role SimpleNexus occupies in the digital mortgage movement and an industry wide embrace of our mobile-first technology that is making the mortgage process more efficient,” said Matt Hansen, SimpleNexus Founder and Chief Executive Office. “As we historically have been self-funded, we know that this new partnership with Insight Venture Partners will catalyze our growth, and provide our executive team with the additional resources to drive market expansion.”

 

SimpleNexus now has 15 of the top 25 retail mortgage lenders in the U.S. using its enterprise digital mortgage platform. More than $100 billion in transactions have flowed through the platform, and 450,000-plus borrowers have used the SimpleNexus app. 

 

“In the mortgage industry–and across financial services more broadly–we continue to see acute needs for improving the customer experience, empowering agents on the front line, and streamlining processes to reduce costs on the back end,” said Paul Szurek, Vice President, Insight Venture Partners. “The impressive traction that SimpleNexus has gained in this marketplace is a testament to the immediate and lasting value their mobile tools deliver for loan originators and borrowers alike. We look forward to welcoming them to our portfolio and driving further growth for their best-in-class solutions.”

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