LoanStreet, a New York-based leading platform for sharing, managing, and analyzing loans, closed $25 million in Series B. This brings the total institutional investment in LoanStreet to $39 million.
Portage Ventures served as the lead investor, in addition, Curql Fund I, SilverCircle, Coastal Financial Corporation, Sterling Bancorp joined as new investors in the Company alongside participation from existing investors Third Prime Capital and Arbor Ventures.
LoanStreet will use the investment to accelerate the adoption of its market-leading participation platform for trading and reporting on loans; expand the capabilities of its loan analytics offerings, and continue to develop its next-generation commercial loan servicing solution.
Company: LOANSTREET INC.
Raised: $25.0M
Round: Series B
Funding Month: February 2022
Lead Investors: Portage Ventures
Additional Investors: Curql Fund I, SilverCircle, Coastal Financial Corporation, Third Prime Capital, and Arbor Ventures
Company Website: https://www.loan-street.com/
Software Category: Lending Solution
About the Company: LoanStreet was founded in 2013, by Ian Lampl, the former U.S. Department of the Treasury Deputy Chief Counsel for TARP, LoanStreet is the first fully integrated online platform that streamlines the process of sharing, managing, and analyzing loans for credit unions, banks, and direct lenders. LoanStreet was founded with the mission to create a more efficient, transparent, and robust way of administrating loans and connecting the lending market. LoanStreet’s nationwide network of hundreds of financial institutions gives lenders the ability to profit and grow by combining technology and dedicated expertise to mitigate the constraints otherwise caused by geography, size, or concentration limits. Over 1,200 financial institutions now use LoanStreet’s software solution to successfully do business with each other and maximize the potential of their respective organizations. LoanStreet’s mission is to provide the most efficient, transparent, and robust tools for financial institutions to manage loans, connect with partners, and effectively share risk.
Source: https://www.loan-street.com/press/loanstreet-series-b-led-by-portage-ventures