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
UMKC receives $12.97M grant from Kauffman Foundation to boost barrier breaking across KC region, beyond
Editor’s note: The Ewing Marion Kauffman Foundation is a financial supporter of Startland News’ nonprofit newsroom. New grant provides support to continue and expand entrepreneurship programs on the UMKC campus and across the Kansas City region The University of Missouri-Kansas City has received a historic, five-year, $12.97 million grant from the Ewing Marion Kauffman Foundation…
This 11-year-old’s lemonade sells out in hours at Hy-Vee; Here’s how he hopes to extend the shelf life of his young family business
The all-natural, fresh-squeezed lemonade made by 11-year-old Tre Glasper and his family in a Manhattan commercial kitchen is making its way to Kansas City thanks to a tart partnership with one of the Midwest’s leading grocery chains. Tre typically sells about 100 bottles of Tre’s Squeeze — an amount that takes two to three hours…
LaunchKC eyes startups building ‘a more prosperous and equitable future’; Social Venture Studio opens apps
A program created in late 2021 to help boost promising social ventures as they create sustainable business models to tackle social, racial, or environmental issues is returning this spring for its second cohort. LaunchKC’s Social Venture Studio is now accepting applications for its program, which aims to drive social impact and return on investment via…
Grief happens on (and off) company time: Why a startup founded from loss is building holistic bereavement plans for corporate America
When grieving employees return to work, managers and colleagues often aren’t equipped to properly support them, said Lisa Cooper. “While I was working in corporate America for quite some time, I had witnessed a lot of dysfunction surrounding grief,” said Cooper, co-founder of Workplace Healing alongside Mindy Corporon. For example, I can remember specifically when someone…