Blend

Overview
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FinTech Infrastructure?
Product stageSegments
Growth
?
Lending-as-a-service (LaaS)
?

Blend provides a lending-as-a-service (LaaS) platform to help banks and other financial institutions build out their own lending platforms. Its platform offers a range of LaaS solutions including mortgage infrastructure and consumer loan infrastructure (personal loans, credit cards, vehicle loans, etc.). Blend provides the tools for lenders to integrate and connect their own loan origination systems (LOS), core banking, and other systems to third-party service providers for credit, data verification, and other such services through pre-built integration and application programming interfaces (APIs).


The company’s platform was used by over 285 financial institutions as of January 2021 including the largest bank retail mortgage provider in the US, Wells Fargo with around 75% of its loan originations routed through digital apps powered by Blend.


Blend enables customers to process more than USD 4 billion in mortgages and loans per day—USD 1.4 trillion in 2020 overall. Blend also added 200 new employees in 2020, expanding its workforce by over 60% during the year.


The company raised USD 300 million in Series G funding in January 2021 at a valuation of USD 3.3 billion. The funds were earmarked for further development of its products and services. In April 2021, Blend confidentially filed with the SEC for an IPO, and was yet to disclose the proposed number of shares and price range of the issue.

HQ location:
415 Kearny Street San Francisco CA USA
Founded year:
2012
Employees:
1,001-5,000
IPO status:
Public
Total funding:
USD 815.0 mn
Last Funding:
USD 150.0 mn (Private Equity; Apr 2024)
Last valuation:
USD 3.3 bn (Jan 2021)
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