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
Hollywood Animation Academy secures home at Centriq; set to begin first classes in January
Hollywood Animation Academy is leaping from the drawing board to live action in January with its first group of enrolled students. Founded by veteran director and animator Gavin Dell, the trade school is set to prepare students for jobs in the film, gaming, and television industry. Dell, an Overland Park native, returned to Kansas City…
KC duo opens candy shop at Mizzou, bringing familiar flavors to students far from home
COLUMBIA, Missouri — A pair of Mizzou students from the Kansas City area are providing international students on campus with a taste of home. Kogo’s Kandies sells candy and treats from other countries, with the goal of fostering a more inclusive campus environment at the University of Missouri, said co-founders Jacob Burrell-Kogo and Henry Accardo.…
Custom digital avatar tech, affordable housing startup among Scale’s third cohort
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 the Ewing Marion Kauffman Foundation, which leads a collaborative, nationwide effort to identify and remove large and small barriers to new business creation. COLUMBIA,…
Vytelle doubles its bovine IVF lab capacity; outpacing goals since its $13.2M round
A five-year plan initiated by Vytelle’s Series A funding round called for the agtech startup to double its laboratory capacity to produce bovine embryos through in vitro fertilization. Just a year later, the Lenexa-headquarted company already has opened its fifth new lab. Vytelle’s latest facility — in Franklin, Tennessee — is accessible to beef and dairy…