Real estate startup LendingHome completed $57 million in Series C financing. Sberbank and Noah Holdings participated in the round.
LendingHome offers flexible, simple, fast, transparent, and reliable mortgages. Users answer a few questions about the type of home they’re looking for, their income, estimated credit score, and their plans for down payment. LendingHome’s technology uploads required income verification, assets, debt expenses, and employment history documents on behalf of the user. After users pay for their appraisal and confirm their close date, LendingHome provides the loan terms and a breakdown of all of the costs associated.
The venture capital funding will be used to expand the size of LendingHome’s engineering team and invest in its next-generation digital mortgage product for homebuyers and property investors.