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
Prospect KC brews coffee bar collab with Messenger inside iconic downtown KC library
A reimagined coffee shop — closed during the pandemic — returns to full strength Aug. 7 thanks to a menu of pastries, sandwiches, and salads prepared by The Prospect KC culinary students in a live-training environment, as well as drinks and coolers crafted with Messenger Coffee Co. The 1,350-square-foot coffee bar and café — dubbed…
Cookies have taken over Sweet Kiss, but this mother-daughter brigadeiro shop has even more baked inside
For Jessica Harris, a brigadeiro offers a taste of home, she said, and for almost a decade, she’s been sharing those Brazilian truffles with Kansas City. When the Sweet Kiss Brigadeiro co-founder relocated to the City of Fountains in 1996 — following her sister who moved the year before to play basketball for Penn Valley…
Catalyst Fund tops $2M invested in nonprofits boosting people of color; meet the latest grantees
The latest batch of Catalyst Fund grants — a combined $500,000 across nearly two dozen organizations — seeks to elevate the work of small nonprofits that are led by or primarily serve Black, Latino, and other people of color across the region, said Dr. DeAngela Burns-Wallace. “Looking across the list of organizations in this third…
KC’s remaining shopping malls face an economic crossroads (and starkly different futures)
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. Country Club Plaza, Oak Park Mall, Independence Center hit with similar challenges The…