
Total amount raised
$290 Millions
Latest funding date
July, 2021

Location
Blend has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of digital tools designed to streamline the lending process for both mortgage and consumer banking.
Keep reading to explore the intricacies of Blend's fundraising journey and the investors backing this innovative platform.
What Is Blend?
Blend, founded in 2012, is a digital lending platform based in San Francisco, California. The company was established by Erin Collard, Eugene Marinelli, Nima Ghamsari, and Rosco Hill.
Blend's platform simplifies the application process for mortgages, consumer loans, and deposit accounts, helping lenders streamline the customer journey from application to close. The company processes over $4 billion in mortgages and consumer loans daily.
With a workforce of 1001-5000 employees, Blend continues to innovate in the financial technology sector, providing tools that enhance productivity and customer relationships for financial institutions.
How Much Funding Has Blend Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: December 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop the platform.
- Series B
- Amount Raised: $20M
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations.
- Series C
- Amount Raised: $40M
- Date: January 2016
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and increase market penetration.
- Series D
- Amount Raised: $100M
- Date: August 2017
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series E
- Amount Raised: $130M
- Date: June 2019
- Lead Investors: General Atlantic, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and strategic acquisitions.
- Series F
- Amount Raised: $75M
- Date: August 2020
- Lead Investors: Canapi Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand customer base.
- Series G
- Amount Raised: $300M
- Date: January 2021
- Lead Investors: Coatue, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation and scale operations globally.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Private Equity Round
- Amount Raised: $150M
- Date: April 2024
- Lead Investors: Haveli Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To repay existing credit obligations and strengthen the balance sheet for future growth.
Total Amount Raised: $815M. Current Valuation: Not publicly disclosed.
Key Investors
- Haveli Investments
- Details: Haveli Investments is a private equity firm based in Austin, Texas. Brian Sheth, the Chief Investment Officer, is a key figure in the firm.
- Investment Focus Areas: Technology, financial technology, cloud banking services.
- Notable Investments: Blend Labs.
- Coatue
- Details: Coatue is a global investment firm focused on technology, media, and telecommunications. It was founded by Philippe Laffont in 1999.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Snap Inc., DoorDash, ByteDance.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. It was founded in 2001 by Chase Coleman.
- Investment Focus Areas: Technology, consumer, industrials.
- Notable Investments: Facebook, LinkedIn, Spotify.
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. It was founded in 1980.
- Investment Focus Areas: Technology, financial services, healthcare, consumer.
- Notable Investments: Airbnb, Alibaba, Uber.
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean investment company owned by the Government of Singapore. It was established in 1974.
- Investment Focus Areas: Financial services, telecommunications, media, technology, transportation.
- Notable Investments: Alibaba, Gojek, PayPal.
What's Next for Blend?
Blend's strategic partnership with Haveli Investments opens up significant opportunities for growth. With a $150 million investment, Blend can strengthen its financial position and expand its market share in mortgage and consumer banking software. The partnership also brings valuable expertise to Blend's board, potentially driving long-term value creation.
Future fundraising opportunities seem promising, given the improved financial standing and strategic backing. However, Blend faces challenges such as managing existing debt and maintaining growth momentum in a competitive fintech market. Effective use of new capital will be crucial for sustaining long-term growth and innovation.
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