Lending tech firm Blend raises $130m

Lending tech firm Blend raises $130m

American digital lending technology player Blend has raised $130 million in a Series E funding round led by Temasek and General Atlantic.

Existing investors 8VC, Founders Fund, Greylock Partners, and Lightspeed Venture Partners also participated in the round, which brings the company's total funding to $310 million.

Founded seven years ago, Blend helps more than 150 lenders - including Wells Fargo and US Bank - process nearly $2 billion in loans every day.

The firm is best known for digitising the mortgage process but has also moved into consumer lending, recently expanding into deposit account opening, home equity, and homeowners insurance.

The new funding will be used to build out its suite of products further and to add to a 400-strong workforce.

Paul Stamas, managing director at General Atlantic, says: "Blend's technology platform is driving an evolution in how lenders do business and interact with their clients.

"Blend's approach of partnering with financial institutions to reimagine consumer finance has proven hugely successful thus far, and we're thrilled to assist them in their next phase of growth."

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