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
Just funded: Four new Digital Sandbox KC companies scaling products beyond survival mode
Freshly announced funding from Digital Sandbox KC is expected to help four Kansas City startups scale their innovations to market with additional access to investors, resources and a growing network of fellow entrepreneurs. Among the first-quarter Sandbox recipients, Basehor-based Mpruv Sports plans to use the new backing as it releases a series of peer-to-peer, on-demand,…
UMKC pitch contest returning with $90K in prizes; spots remain for emerging startups
The 2023 edition of the Regnier Venture Creation Challenge (RVCC), an annual pitch competition hosted by UMKC, is expected to award $90,000 in equity-free funding to student entrepreneurs and Kansas City businesses. Ben Williams, managing director at the Regnier Institute for Entrepreneurship and Innovation, shared his excitement for this year’s event — set for April…
He’s building a more welcoming (and eco-friendly) KC, but this entrepreneur’s vision comes with a catch: It isn’t a one-man job
Reda Ibrahim’s home is open to everyone, he shared, especially for those who feel like they don’t belong anywhere. “I have a big magnet toward everyone who doesn’t fit in. I faced a lot of racism; I have faced the struggle to be accepted. [When I came to the United States] seven, eight years ago,…
Art Junkez put Chicano custom culture on canvas with a colorful salute to family roots
The Art Junkez — a venture crafted by a Westside-raised brother and sister and their spouses — set out to create “something out of nothing” in celebration of their Mexican-American heritage, Selena Moran and Jaime Calderon shared. Growing up, it wasn’t easy to find gifts that reflected their culture — like something for their grandma…