LoanSnap, a provider of artificial intelligence-backed smart-loan technology, has announced that it is now offering mortgage options in Florida and Illinois.
The expansion followed the launch of its AI-powered lending tool in California and Colorado.
LoanSnap enables borrowers to analyze their financial situation through its mobile iOS and Android apps. LoanSnap then offers personalized smart-loan options to reduce the users’ monthly bills and lower their overall debt.
Since its launch a year ago, the startup has raised $17 million in venture funding, which it will use to further expand its team and loan offerings.
"The good news is that the economy is doing well right now, but we all know that it may not always be so rosy," said Karl Jacob, chief executive officer and founder of LoanSnap. "That's why it's a perfect time to invest in a new home or consider refinancing and consolidating credit card or other debt. With LoanSnap, we don't just sell you the lowest interest rate like other lenders — we look at your entire money situation and give you options that save you the most money across the board, today and in the future."