Mortgage tech company SimpleNexus announced today it has raised $20 million in capital from Insight Venture Partners to fuel its plans for future growth.
The company, which was a 2018 winner of HousingWire’s Tech100, offers a private-label digital mortgage platform and mobile app designed to connect lenders with borrowers and real estate agents.
The platform allows loan officers to become “mobile originators,” using their smartphones to view applications, pull credit reports and basically oversee all aspects of the loan process while connecting in real-time to their LOS. The SimpleNexus app also enables all parties to the transaction to exchange documents easily throughout the loan cycle.
SimpleNexus says 15 of the top 25 retail mortgage lenders in the U.S. use its platform, which has also serviced more than 450,000 borrowers and managed the flow of $100 billion in transactions.
“Our unprecedented growth clearly demonstrates the leading role SimpleNexus occupies in the digital mortgage movement and an industry-wide embrace of our mobile-first technology that is making the mortgage process more efficient,” SimpleNexus Founder and CEO Matt Hansen said in a statement. “As we historically have been self-funded, we know that this new partnership with Insight Venture Partners will catalyze our growth and provide our executive team with the additional resources to drive market expansion.”
