LendingHome may be the biggest real estate tech startup most New Yorkers have never heard of.
The mortgage-lending marketplace, founded in 2013, has raised $109.3 million in venture funding from firms like Renren – placing it among the real estate industry’s richest startups. That fact alone should make LendingHome the talk of the town. So why isn’t it?
One likely reason is that the San Francisco-based firm only just launched in New York, on July 16, and hasn’t financed any deals here to-date. But it’s also perhaps because of its focus: while other real estate startups are developing 3D technologies and cloud computing solutions for the Big Apple’s biggest landlords, LendingHome focuses on financing what is arguably the least flashy asset class in real estate: non-owner-occupied, single-family properties. [more]