Wilson Sonsini Goodrich & Rosati advised Blend on the deal.
Blend, a leader in digital lending solutions, announced it closed $300 million in Series G funding led by Coatue and Tiger Global, nearly doubling its valuation to $3.3B in just five months. The capital will be used to fuel Blend’s next phase of growth and support investment in the products and services that matter most to financial institutions as the company aims to power the future of consumer banking. This news comes on the heels of a record year as Blend’s technology facilitated $1.4 trillion in mortgages and consumer loans in 2020 and the company added more than 200 new employees, increasing its headcount by over 60%.
Blend is building a technology platform to support all consumer banking needs. Key elements of this include a unified configurable platform for mortgages, consumer loans, and deposit accounts as well as an end-to-end digital mortgage solution where consumers can complete the full home finance process, including insurance and closing, in a single place. Bringing all these elements together saves both financial institutions and consumers time and money.
Blend helps lenders streamline the customer journey for any banking product from application to close. Its Digital Lending Platform is used by Wells Fargo, U.S. Bank, and over 285 other leading financial institutions to acquire more customers, increase productivity, and deepen customer relationships
The Wilson Sonsini team advising Blend includes Rezwan Pavri (Picture) and Andrew Hill.
Law Firms: Wilson Sonsini Goodrich & Rosati;