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Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges

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Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in Brooklyn, New York, Oct. 16, 2018.

Alex Flynn | Bloomberg | Getty Images

Digital lending start-up Blend raised $75 million in fresh funding amid surging demand for streamlined mortgage applications during the coronavirus pandemic.

The move values the company at almost $1.7 billion, a jump of more than 70% from its previous funding round a year earlier, CNBC has learned.

Blend is growing rapidly as U.S. banks and credit unions seek help in updating tedious, paper-heavy loan processes. The start-up, founded in 2012, began with software that helped banks offer faster digital…

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Source cnbc.com

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