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
Missouri’s best breweries are in Kansas City (and they have the medals to prove it)
Two Kansas City brewers barreled through the competition earlier this week, earning the first-ever, statewide “Brewery of the Year” honors for local favorites Boulevard and BKS Artisan Ales. It’s a feat fermented through years of dedication by the teams behind the labels, both brewers said. “From the day we opened, we have kept balance with…
World Cup readiness event opens City Hall to entrepreneurs hoping to get on the roster
Kansas City wants to score as many points as possible when the FIFA World Cup arrives in 2026, said Janá Wagner, emphasizing that a special event planned Tuesday during GEWKC aims to get businesses into the game now — playbook in hand. “Our goal is to help as many entrepreneurs as possible get properly licensed,…
10 top event picks for GEWKC; build your own schedule from 60+ sessions
With dozens of events on the calendar for GEWKC, Union Station will be bustling with activity, said Callie England, noting organizers intentionally curated a week where attendees can’t go wrong — no matter how they fill out their itinerary. “While the schedule can feel full, it’s truly the best of the best,” said England, director of…
How AI changes the the founder code: ‘This is all moving faster than anyone expected’
New tech opportunities — like artificial intelligence — hold the potential to equalize the Kansas City region among more established startup hubs, investment leaders said Thursday, but to fully take advantage, entrepreneurs who want strong, lasting companies must have a fire inside them. Not to mention grit. “Several really incredible entrepreneurs said, ‘I think the one…