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
Kin crafts flavor into hard seltzer market, targeting overlooked Black consumers looking for authentic social experiences
The founding trio of a new hard seltzer crafted in Kansas City hopes the drink will add much-needed inclusivity to the craft seltzer space. Kin Seltzer is a collaboration between Joshua Lewis and Kearra Johnson of UpDown Nightlife, and Eric Martens of Border Brewing Company. Currently, leading seltzer brands target their marketing predominantly to white…
KC mom’s goal for her daughters’ brewing coffee business: Making history, served Blakk
Germaneke Drone is steeping her daughters’ entrepreneurial vision with her own lived experience to turn the kids’ idea into the Kansas City-based, dairy-free mobile coffee cafe of their dreams, the Blakk Brew founder said. Growing up with a Vietnamese grandmother, Kai, 8, and Keanu, 6, were introduced to coffee and tea culture at an early…
Danza returns with a new music video (and business cards); why this award-winning KC performer is chasing more than success
The idea of “making it” in the music industry isn’t what drives Anthony Louderback to create vulnerable, truth-filled melodies, he shared — rather, his creative outlet has taken him on a life-long exploration of himself and his community. “When I first started releasing music, I didn’t know that it was going to be this journey…
Top 10 unfurled after banner year: KC Chamber narrows contenders for ‘Small Business of the Year’
A half-dozen fresh-faced ventures — plus a few high-profile returning businesses — round out the Top 10 finalists for the KC Chamber’s 2023 Small Business of the Year award, announced publicly Friday during a social media rollout. “Small businesses drive KC’s economy, and we couldn’t be more excited for this year’s Top 10, and the…