Real Estate Investor Lender LendingHome Closes $75 Million In Series E Funding

  • LendingHome – one of the country’s largest real estate investor lenders – announced a Series E round worth $ 75 million. These are the details.

LendingHome – one of the country’s largest real estate investor lenders – announced a Series E round worth $ 75 million, and the company’s board of directors has named Michael Bourque as CEO. And Benefit Street Partners, a leading credit alternative wealth management firm, led the fundraising round.

Bourque will take over the day-to-day running of the company and join LendingHome’s board of directors. And a financial markets veteran, Bourque has served as LendingHome’s chief operating officer and chief financial officer since joining the company in August 2018.

LendingHome Co-Founder Matt Humphrey has stepped down as Chief Executive Officer and will continue to serve on the Board of Directors. In addition, Richard Byrne, President of Benefit Street Partners, will join the Board of Directors. Funding and executive moves will drive all aspects of the business to maintain an aggressive pace of growth, achieve sustained profitability, and accelerate the company’s rapidly growing leadership position in the real estate investment market.

Bourque brings almost 20 years of leadership experience to the table. At General Electric, Bourque has held executive positions in finance, auditing and financial planning, spanning various industrial and financial services companies. Prior to LendingHome, he was the CFO of the publicly traded mortgage company Ocwen Financial Corporation, which at the time had more than 10,000 employees.

LendingHome is known as one of the best fix-and-flip lenders in the country. To date, over $ 6 billion in loans have been made. Founded in 2013, LendingHome makes it easy for professional and first-time real estate investors to get the quick and reliable funding they need to keep their projects and businesses thriving. With a powerful combination of innovative technology and expert advice, LendingHome has brought flexibility and simplicity to every step of the loan process.

IMPORTANT QUOTES:

“It has been a great honor to have served as CEO of LendingHome since the company’s inception in 2013, and I’m incredibly proud of everything our team has achieved together over the past seven years. We have built a high-growth, profitable fintech company that is number one in our residential real estate investment market. I look forward to our next chapter where we’ll use our world-class technology to work with our clients beyond lending. “

“The board and I are confident that Michael is the right person to build on this dynamic. He is a seasoned leader with significant experience working with financial markets, scaling efficiently, and creating value for investors. And most of all, he takes great care of every member of our team. We are fortunate to have him as the next CEO. “

“I know I speak for everyone at LendingHome by thanking Matt for his leadership and his tireless dedication to the company. I am very excited to take on this new role and the future of the company. We are facing significant growth and are excited to complete this strategic investment from Benefit Street Partners. We have an exceptionally talented team at LendingHome that is focused on growing the business, continuing to innovate our products and channels in new and diverse ways, and opening up future opportunities. I look forward to taking LendingHome to the next level. “

– Matt Humphrey, co-founder of LendingHome