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
Power player-turned-poet Pasquale Trozzolo’s new move: Write words worth a thousand pictures
Thirty-five years after starting his own network of strategic marketing firms, Pasquale Trozzolo teases that his longtime communications journey was just the first chapter ahead of what’s to come — as one of the boldest names in Kansas City’s print history takes on a title that he admits still feels a little strange: poet. The…
Tech takes active-shooter training beyond paper targets as deadly real-world threats rise
COLUMBIA, Missouri — A startup’s portable target system could transform the way law enforcement agencies train for active-shooter scenarios, said Kris Knutson, a former IT consultant propelled into the govtech market amid a rise in real-world threats. Shot Bot — patented by Knutson in 2019 — provides realistic, adaptable, and comprehensive training experiences, the Missouri…
‘Big Flour’ can’t recreate this stone-milled secret ingredient: the Kansas-grown artisan wheat in your favorite KC bakeries
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. NEW CAMBRIA, Kansas — Artisan flour sourced from a network of Kansas growers not only takes any batch of baking up a notch, said Ben Mantooth; it makes a better…
How a humble DIY upbringing sparked this streetwear designer’s minimalist aesthetic
Flaws are part of nature, says Clark Rooseveltte: Go forth and be creative (not normal) Clark Rooseveltte — already known across Kansas City as the man behind the mic (and the mixtape) — is inviting others into his world of creative living through Clvr World Goods and Supply, a lifestyle brand focused on streetwear and…