LenderClose, a real estate and home equity lending technology platform, has been named a 2021 finalist of the Prometheus Award sponsored by the Technology Association of Iowa (TAI). This is the third year the fintech firm has garnered the honor, recognizing the company’s growth and continued strides in developing technology to improve real estate lending.
LenderClose is a finalist in the FinTech & InsurTech Company of the Year category. The winners will be named Nov. 4, 2021.
Since last year, LenderClose has closed another round of funding, a Series B funding round of $10 million. In addition, the fintech firm has grown its team by 45% and its client roster by 22% since the end of Q4 2020.
With a laser focus on dominating the market with unquestionable, superior technology, LenderClose has grown exponentially during the last year. Along with enhancements to its existing system, the company launched Home Equity Express (HEx), a cloud-native technology that helps reduce the time it takes financial institutions to process home equity loans. Lenders can spend significantly less time per file with HEx’s automated workflow that places collateral verification data and reports. Existing client users have reported their origination time has been reduced by nearly 60%.
More than 2,000 individual users tap the LenderClose platform to improve their home equity lending process. Financial institutions using the system have reported improved speed, efficiency and borrower experience that gives them a competitive edge in a growing market.