Startup LoanSnap Promises “First Smart Loan Technology”

Jul 23, 2018

LoanSnap Inc., a San Francisco-based direct lender startup that promotes itself as offering “the world's first smart loan technology that protects people against dumb loans,” has opened for business.

According to the company, LoanSnap can instantly analyze a person's financial situation using artificial intelligence technology. The company then claims it can sort through “through thousands of loan options to identify the best choice.” LoanSnap also insists that it is offering the “first loan technology that accounts for important factors, including the U.S. financial environment, to ensure that people have the best available loan now and into the future.”

LoanSnap has raised $12.3 million in investors, including high-profile entities such as Sir Richard Branson's Virgin Group and Joe Montana's Liquid 2 Ventures. The company is co-founded by serial entrepreneurs Karl Jacob and Allan Carroll, both with histories of launching companies that are acquired by larger corporations. In 2014, Branson's Virgin Money entered the wholesale mortgage business.

About the author

Phil Hall

Link copied

Published

Jul 23, 2018

People On The Move

Figure Technology Solutions Names Michael Tannenbaum New CEO

Founder and former CEO, Mike Cagney, assumes the role of executive chairman.

Figure Technology Solutions (FTS), parent company of five-days-to-close HELOC originator, Figure Lending, announced today the appointment of Michael Tannenbaum as chief executive officer (CEO) and a member of the Board of Directors. Co-founder and previous CEO of the company...

Analysis and Data

Monthly, Yearly Jump In New Home Sales In March

The growth coincides with roughly a quarter of builders saying they cut prices last month.

Sales of newly built, single-family homes in March jumped 8.8% month-over-month, reaching a seasonally adjusted annual rate of 693,000 units compared to February's revised 637,000 units, according to data released jointly today by the U.S. Census Bureau and the Department of...