CommLoan takes $2.25m for mortgage lending marketplace

Mortgage lending company CommLoan has picked up $2.25m in seed funding from Social Leverage and ViaWest Group.

The Scottsdale, Arizona-based startup offers a marketplace designed to match lenders and loan programmes with commercial mortgage borrowers.

CommLoan’s technology also aims to support borrowers throughout the process with loan processing and underwriting.

Company CEO and co-founder Mitch Ginsberg said: “The commercial real estate lending process is highly inefficient and borrowers are limited as it relates to their access to lenders and loan programs.

“CommLoan aims to make the process efficient for both lenders and borrowers. For lenders on our platform, we offer access to a new source of potential borrowers, together with consistent, pre-processed packages underwritten to their specific guidelines.

“For borrowers, CommLoan gives access to the best available pricing, while providing white glove service throughout the lending process.”

The company says it will use the capital to secure further business development resources to accelerate its sales efforts.

CommLoan previously raised an undisclosed seed round from TYLT Ventures in April of last year.

Copyright © 2016 FINTECH GLOBAL

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.