LoanPASS Secures Funding To Accelerate Development And Growth
In a show of industry strength, LoanPASS has secured Series E Preferred Stock financing of $5M to support its expansion efforts and new sales initiatives.
“Despite challenging market conditions, particularly for fintech ventures, LoanPASS has secured significant growth capital, underscoring our sustained effort over the past five years to develop what is now being recognized as the industry’s leading PPE for mortgage and all lending products” said Bill Roy Founder & CEO of LoanPASS. ‘While some of our competitors often tout larger sales budgets, we are resolutely focused on leveraging our core foundational strength in building superior software – a commitment which is now resonating within the markets we serve, evidenced by recent LoanPASS client wins from once leading competitors”.
LoanPASS also welcomes its newest investor and Board Member, Sy Jacobs, the founding and managing member of Jacobs Asset Management (JAM) – a family of financial services focused market neutral, private equity and venture capital funds.
LoanPASS is a loan decisioning technology solutions provider for lending institutions throughout the US. LoanPASS is a no-code, SaaS application that empowers lenders with unparalleled control over loan product, pricing, and underwriting decision output. The LoanPASS open API network allows seamless integrations with leading CRM, POS, and LOS providers. LoanPASS targets a variety of lending sectors including mortgage investors, independent mortgage banks, private lenders, banks and credit unions.
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