LendingStandard closes $6.7M round with Flyover Capital among key longterm investors
June 6, 2023 | Startland News Staff
A Kansas City startup’s efforts to streamline the commercial real estate industry are not only reducing wasted time and frustration for lenders and borrowers, said Keith Molzer, it’s making good on investors’ expectations of the tech-driven Saas marketplace.
“LendingStandard has listened and responded to what the market needs,” said Molzer, founding managing partner at Flyover Capital and board chairman at LendingStandard. “As one of their earliest investors, we’ve seen them grow and are eager to watch their next steps.”
The startup on Tuesday announced a $6.7 million round of equity funding, led by Naples Technology Ventures (NTV) with participation from Kansas City-based Flyover Capital and existing investors.
Founded in Kansas City, Kansas in 2015, LendingStandard offers commercial real estate (CRE) lenders a single platform to manage the loan process across all their products. The company’s comprehensive commercial real estate finance platform increases efficiencies by up to 45 percent for clients working with some of the most complex loans.
Its platform is used by three of the top 10 U.S. lenders, and the company looks to rapidly expand its market share with this new round of capital, said Andy Kallenbach, CEO of LendingStandard.
“We’ve had amazing feedback from our prospects and clients over the last few years, and that input has driven us to reimagine how we can expand to serve the commercial real estate industry more robustly,” said Kallenbach. “This round of funding will help us push the platform — and our experienced enterprise team — forward faster.”
In recent years, LendingStandard has meticulously rebuilt its platform to support not just underwriting, but managing and optimizing the entire commercial real estate process from quote to close, according to Kallenbach. The company’s next-generation platform has also expanded to cover a larger spectrum of loan types, from Fannie Mae and Freddie Mac loans to balance sheet lending.
“At a tough time for the industry, commercial real estate lenders need to make the most of every single deal,” said Mike Abbaei, managing partner at NTV. “Our team is proud to support LendingStandard in simplifying and modernizing commercial real estate lending.”
As part of the funding deal, Frank Strauss, advisor at NTV, will join the LendingStandard board alongside Molzer.
Featured Business
2023 Startups to Watch
stats here
Related Posts on Startland News
Biz class to barista: UMKC student’s mobile matcha cart hand-whisks crowds of thirsty fans
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. HerCafe, a matcha business founded by a University of Missouri-Kansas City student and her friend, has found success with its weekend…
Tim Tebow to entrepreneurs: Embrace the heavy lift if you want to reap life’s real profits
COLUMBIA, Mo. — Business should be about driving impact, not just scoring another win, said former NFL quarterback Tim Tebow — challenging Midwest entrepreneurs, community builders, and investors to consider outcomes that boost others, not just one’s personal pocketbook. “Probably everybody in this room has been super blessed with skill sets, resources, relationships, opportunities, companies,…
Here’s how a Prospect renewal project invests in both those who built KC and the city’s future
Economic development initiatives are measured not just in buildings, but in opportunity, said Melissa Patterson Hazley, lauding the use of the Central City Economic Development (CCED) Sales Tax Program to transform underutilized parcels in Kansas City into modern, energy-efficient housing that support long-term neighborhood vitality. “Projects like Prospect Summit represent the intentional work of making…
Fusing talent, passion: Serial founder trades his Screamin Cow for offshore talent hiring platform
Brad Starnes’ itch to lean into a newly realized pain point at the end of 2024 led to the acquisition of his Screamin Cow Marketing Group and the launch of another passion project, the former UMKC Student Entrepreneur of the Year shared. With the move — which sees Screamin Cow transitioned to Builders of Authority…