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
Lawrence-based Ainstein taking flight with jetpack founder in Red Bull Air Race
When the founder of JetPack Aviation blasts to the sky later this month in Red Bull’s Air Race World Championship, it will be a testament to the innovation and quality at Ainstein, a Kansas radar tech firm, said Bryan C. Boots. “Although our products are widely deployed today in unmanned aviation (drone) applications, this will…
CreativeMornings KC relaunches with art culture, business community in focus
Artists are George Brooks’ people, the Crema co-founder and a co-host of the newly relaunched CreativeMornings KC guild said. “I love that CreativeMornings fosters the idea that we can all view our work, hobbies, and life through lenses of creativity,” Brooks said. “By bringing together a community of people who value creativity, it bridges the…
Advancing women as important now as ever, says STEMMy Awards leader
Women leave tech-intensive industries at a higher rate than their male counterparts because of a lack of encouragement and support, said Renee Keffer, citing a 2014 report by Catalyst. The fifth annual STEMMy Awards Gala aims to change that narrative in Kansas City, Keffer, co-chair of the event, said, but organizers need help: Nominations remain…
Kauffman Foundation’s Philip Gaskin sees entrepreneur ecosystems in the humble snowflake
Editor’s note: This content was sponsored by the Ewing Marion Kauffman Foundation but independently produced by Startland News. When it comes to developing a startup, there’s no better training ground than a political campaign, Philip Gaskin said. “You’re building movements of people to do extraordinary things,” said Gaskin, director of entrepreneurial communities and chief of…