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
New $2.2M funding round powers WorkTorch career platform expansion into KCK, KCMO
Less than a year after sisters Deborah Gladney and Angela Muhwezi-Hall became the first Black women in Kansas to raise $1 million in seed funding for their startup, their rebranded Wichita company announced another $2.2 million investment for its rapidly scaling service industry career platform. The new influx of funding — led by Wichita-based Tenzing Capital…
No ratings, no negative reviews: Restaurant app guides diners through crowd-sourced trust
Popular restaurant review sites — clouded by negative reviews and manipulated ratings — have often led Leo Esposito astray, he shared. To revolutionize the way people discover their next favorite place to eat, Esposito launched the social app Bōzt. “Our vision is to be the most trusted platform for sourcing restaurant recommendations,” said Esposito, who founded…
Meet three tech startup founders pitching in KC’s women-led ‘Dolphin Tank’ event
A pitch event is set to return to Kansas City with a trio of female founders spotlighted for a panel of “dolphins.” “Springboard’s Dolphin Tank brings the power of our collective community to women entrepreneurs innovating in enterprise tech,” said Natalie Buford-Young, CEO of Springboard Enterprises. “Our Dolphin Tank events showcase exciting women-led companies and…
Founders earn innovation, Business Hall of Fame honors from Junior Achievement
Carlos Antequera’s business roots run deep, he told a crowd gathered for his induction into Junior Achievement’s Business Hall of Fame, noting inspiration and impact from his time assisting his grandmother in her convenience store in Bolivia to current-day collaborators in Kansas City. “I’ve been very fortunate in my entrepreneurial journey to have been surrounded…