Blend to expand with $130m financing from Series E funding

by Candyd Mendoza26 Jun 2019

Blend has raised $130 million in a Series E funding to grow its team and its efforts to digitize the entire mortgage process, as well as expand its consumer lending products.

The company said it intends to invest its new capital in adding new hires to its team of nearly 400 employees. Additionally, the firm also announced its plans to invest in new technologies, expand its ecosystems of partners and suite of consumer lending products.

In total, Blend has rounded up funding of $310 million. Temasek and General Atlantic led Blend’s financing round with participation from existing investors including 8VC, Founders Fund, Greylock Partners, and Lightspeed Venture.

"Together with our partners, we've made significant strides in transforming lending experiences for consumers and institutions across the country," said Nima Ghamsari, founder and chief executive officer at Blend.

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