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Blend
Digital lending platform
- 1001+ employees
- Fintech
- B2B
- Mortgages
- SaaS
- Chinatown, San Francisco, CA
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Company mission
To provide better lending for everyone, streamlining the end-to-end customer journey for banking products.
Our take
Recent years experienced a housing boom, with more than 13 million mortgages closing in the United States. This came despite restrictions limiting traditional ways of buying property. In short, the vast majority of housing deals were done online.
One of the companies fueling this upsurge was Blend, a digital banking platform with the aim of simplifying the mortgage process. The platform is used by major banks and financial institutions to offer mortgages and consumer loans, with Blend processing an average of $5 billion in transactions every day.
Due to the surge in demand, Blend’s revenue increased by 90% in the past few years. While we saw low-interest rates and a rise in demand for mortgage insurance, the demand for Blend’s services could wane if interest rates rise again. To counter any threats, Blend set out a "path to profitability" in 2023 that includes a 28% reduction in its employee base, a product suite enhancement sweep, and a shift in financial leadership.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Flexible work schedule
- Comprehensive health benefits
- Wellness program that covers a variety of activities, gym memberships, and more
- Partnerships to support all of life’s milestones: Origin Financial Wellness, Compsych Employee Assistance Program, RocketLawyer Legal Plan, and more
- Various leave programs including 16 weeks of paid parental leave with no tenure requirement
- Thoughtful, regular performance reviews
- Support for workshops and lectures to develop your craft
- Competitive compensation packages, meaningful equity, and 401(k) plan
- “Employee-first” environment, where most employees can work wherever they choose
- Open vacation policy
Company values
- Advocacy
- Authenticity
- Integrity
Funding (last 2 of 6 rounds)
Jan 2021
$300m
SERIES G
Aug 2020
$75m
SERIES F
Total funding: $665m
This company has top investors
Leadership
Nima Ghamsari
(Head)They studied Computer Science at Harvard before working for 4 years in Business Development and Engineering at Palantir Technologies. They left in April 2012 to co-found Blend in May.
Erin James Collard
(Board Director)Head trader at Peter Thiel's fund Clarium Capital Management, co-founded Blend and served as CFO for 6 years before stepping down.
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