Commercial Real Estate Fintech Startup Emerges From Stealth, Helping Commercial Mortgage Brokers Generate Over $2 Billion in Loan Applications
After a successful $1.1 million pre-seed fundraiser, including Ascend.vc and notable founders from DocuSign and LegalZoom, LOANtuitive announces a marketplace to empower – rather than remove commercial mortgage brokers from transactions .
SEATTLE, March 15, 2022–(BUSINESS WIRE)–LOANtuitive, a Seattle-based B2B commercial real estate loan marketplace that supercharges commercial real estate loan brokers to match loan applications with lenders, announced today that its software has now been used by commercial real estate loan brokers to generate over $2 billion in commercial real estate loan applications since launching in April 2021.
“We believe that modern technology and commercial real estate mortgage brokers are key to reducing the complexity and transactional bias inherent in this industry,” said Dave Siegfried, CEO and Co-Founder. “Rather than removing brokers from a transaction, LOANtuitive focuses on supercharging brokers with modern technology to increase efficiency and remove the opacity that surrounds all parties when financing commercial real estate.”
Founded in 2020 by a team of commercial real estate and technology entrepreneurs, LOANtuitive is a B2B SaaS commercial real estate debt marketplace. LOANtuitive enables commercial mortgage brokers to collect, assess, and submit loan applications to lenders through a machine learning-assisted marketplace.
The process is simple, clear and efficient. LOANtuitive’s smart app collects only the information needed to quickly prepare a polished executive summary that highlights relevant facts for lenders. The platform then searches a universe of lending programs to assess each loan and find the lenders most likely to fund your application. This next-generation process allows brokers to close more loans in a shorter time frame for their clients.
Kirby Winfield, General Partner of Ascend.vc, explains, “I invested in LOANtuitive, in part because of the outdated way in which over $900 billion of commercial real estate debt is placed in the United States every year. I believes Dave and the rest of LOANtuitive have the experience and insight to successfully disrupt commercial real estate debt in the same way that Insurtech has transformed the insurance industry.”
LOANtuitive has captured the attention of venture capitalists in the tech landscape.
In addition to Ascend.vc and the founders of DocuSign and LegalZoom, LOANtuitive’s pre-seed raise included notable investors from Underdog Labs, Revelry Venture Partners and Iterative Venture.
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