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
Goodwill merger pushes expansion plans, KC’s new adult high school to the front of the store, leader says
Consolidating operations between offices in Kansas City in St. Louis not only will produce one of the largest Goodwill footprints in the nation, said Mike Sinnett; the move is expected to bolster efforts to add more retail stores and deepen initiatives like the soon-to-open Excel Center at Bannister Road. Goodwill of Western Missouri and Eastern…
LISTEN: Biotech founder breaks down how she turns microorganisms into high-quality protein in just 24 hours
On this episode of Startland News’ Plug and Play Topeka founder podcast series, we explore a ground-breaking food innovation with Katelijne “Kate” Bekers, co-founder and CEO of MicroHarvest. This biotech startup is pioneering the world’s fastest protein production — turning microorganisms into high-quality protein in just 24 hours, using sustainable fermentation and agricultural side-streams, while…
From ravioli to revenue: How Pasta La Fata became a fresh pasta powerhouse in mid-Missouri
Editor’s note: The following story was produced through a paid partnership with MOSourceLink, which boasts a mission to help entrepreneurs and small businesses across the state of Missouri grow and succeed by providing free, easy access to the help they need — when they need it. COLUMBIA, Mo. — Michelle “Shelly” La Fata built Pasta La Fata with…
KC startups graduate K-State accelerator, earning equity-free cash, greater conviction
A trio of Kansas City-built ventures — from sports apparel and mental health solutions for young athletes to tech that uses autonomous drones and 3D vision AI — were among the Kansas businesses earning funding through an eight-week accelerator at Kansas State University. The Center for Entrepreneurship Accelerator program at K-State — which provides participants…