Online real estate brokerage Reali has purchased Lenda, a US-based mortgage lending service backed by peer-to-peer lending platform CreditEase, for an undisclosed amount.
Founded in 2012, Lenda operates an online platform that enables homeowners to refinance or secure mortgages, allowing users to compare loan options, complete their application, digitally sign disclosures and upload documents.
Reali will incorporate Lenda’s technology into its offering in the form of an online mortgage application platform called Reali Loans. SF Capital Group led a $5.25m series A round for Lenda in 2017, participating alongside CreditEase’s Fintech Investment Fund and Rubicon Venture Capital.
The company had previously raised $2m in a 2015 seed round led by Lakestar that included Rubicon and 500 Startups. It had received $1m in funding from Structure Capital, Winklevoss Capital, China Growth Capital and private investors Tom Fallows and Naval Ravikant the year before.
Amit Haller, Reali’s co-founder and chief executive, said: “This acquisition of Lenda into Reali Loans accelerates our company roadmap with goals to vertically integrate all parts of the home buying transaction in the near future and realise our vision for a re-imagined real estate experience.”