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
‘Those are fighting words’: Why Weston Bergmann won’t stop until ‘The Blox’ changes every challenger’s life
With the largest live-in startup competition now available on Amazon Prime Video, the stakes have never been higher and the potential never greater for “The Blox” — a show where the reality TV format is mined to turn entrepreneur education into entertainment. “The demand to be on the show has exponentially grown, and with it…
Team behind KC Current, CPKC Stadium honored as Entrepreneurs of the Year
Chris and Angie Long scored another big win Thursday — joining the roster of Kansas Citians honored as UMKC’s Entrepreneurs of the Year — amid an evening that celebrated the world of athletics and the leaders who make the KC sports scene shine. “We feel very proud that we have set a bar,” said Angie…
UMKC’s Student Entrepreneur of the Year sees business potential in KC’s diverse futbol ecosystem
Lesly Romo couldn’t shake an idea bouncing around in her mind for the past few years: a venture she ultimately would call Golazo, a multi-faceted soccer facility that offers the world’s diverse forms of futbol all in one place. Recently named UMKC Student Entrepreneur of the Year, Romo first conceived the concept during her freshman…
InvestMidwest aims to turn connections into dollars; startups can apply to pitch now
Attending InvestMidwest as an audience member was so impactful for Nick Love that the Love Lifesciences co-founder hopes to pitch his own company when the startup-investor conference and showcase returns this spring to Kansas City — for the first time since 2019. “InvestMidwest allowed us to speak with investors, but was also structured such that…