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
From abandoned artifact to new Negro Leagues’ space: Why renovated Paseo YMCA now bears the name ‘Buck O’Neil’
The Negro Leagues Baseball Museum’s redevelopment of the old Paseo YMCA is nearly complete, according to NLBM President Bob Kendrick, who said the renovated building will help the museum share the history of the Negro Leagues with generations to come. Set to open in late spring or early summer, the Buck O’Neil Education and Research…
Royals say tailgating, plenty of parking planned for year-round downtown ballpark district
As the Kansas City Royals deepen their efforts to bring baseball to downtown, the club aims to call up features fans love most — along with attributes from other ballparks and entertainment districts they don’t yet know they’ve been missing, executives said Tuesday. “We’re committed to creating a truly transformational, world-class ballpark district, one that…
Meet the Midwest’s future serial entrepreneurs: Pipeline reveals 2023 fellowship, Pathfinder cohort
Nearly 30 of the region’s most promising founders now have access to an industry-agnostic network that focuses solely on serial high-growth entrepreneurs — without taking equity in the startups it serves, said Melissa Vincent. Pipeline Entrepreneurs on Tuesday officially announced its new roster of high-profile fellows, as well as members of its latest Pipeline Pathfinder…
‘Brain power’ across the street: How this innovation park hopes to keep university talent in Kansas after graduation
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. This series is possible thanks to Entrepreneurial Growth Ventures (EGV), a business unit of NetWork Kansas supporting innovative, high-growth entrepreneurs in the State of Kansas. LAWRENCE — A partnership between…