Everyone again the next city, led LendingHome $70 million in financing

note: hunting cloud Chinese Social networking site that running in the way of transition to the investment company again, one after another investment in domestic investment community a snowball, the American Social media application Yik Yak, real estate, the raised platform Fundrise, low student loans start-up Social Finance and so on a number of companies, now the company targeted the P2P LendingHome mortgage company, and has carried on the collar. The following reports from tencent technology:

on April 14, based in San Francisco, P2P LendingHome mortgage company has completed a new round of financing. This round of financing by the Chinese social networking site renren (nasdaq stock code: RENN), led, financing totaled $70 million.

the Wall Street journal reported that the company has invested hundreds of millions of dollars to the financial innovation of science and technology company, including the student loan company SocialFinance, real estate, the raise sites Fundrise, etc. LendingHome the third Round of financing has also attracted the part of the early investors of the company, including venture Capital firm Colony Capital, Cowboy Ventures, First Round Capital, Capital, Ribbit Capital and SAB Capital, etc. LendingHome has accumulated funds raised $109.3 million through three rounds of financing.

LendingHome co-founder and chief executive Matt Humphrey (Matt Humphrey) and another co-founder and chief executive James Herbert (James Herbert), said after a blockbuster a year later, they finished the third round of financing. In the past year, the innovation of the company has 85 employees, the company launched the mortgage amount more than $100 million.

LendingHome current mainly provide short-term bridge loans to homeowners, or less than 10 households to the tenants single-family homeowners with mortgages. Borrowers can through LendingHome website self-service application to fill in the application materials, online or call LendingHome for necessary assistance. Once completed materials, the borrower can view your loan status through LendingHome account control panel.

LendingHome using traditional and alternative sources of data to determine the real value of the property, and the borrower’s repayment possibility, not just rely on simple assessment or FICO credit scores. LendingHome can refer to the borrower by Intuit Connect, for example, bank statements of transaction data, so as to build the borrower’s situation. Selection of data source can help LendingHome find have a poor reputation, but give a person the first impression of the borrower.

LendingHome polymerization trading on the platform, so, big financial firms, such as hedge funds and other institutional investors can provide loans to the numerous trustworthy borrower. Such institutional investors usually do not provide loans in this asset class. LendingHome will also get the business from institutional investors to individual investors to expand and to grant loans on the platform. Such investors are usually very rich, but may not have much experience and time to review the real estate mortgage trading of investors.

because of the technology, LendingHome faster than the time needed for issuing mortgages is still dependent on traditional financial institutions of artificial assessment team. Agents currently used usually LendingHome, help customers faster access to loans.

renren’s global vice President Matt Murphy (Matt Murphy), said investors LendingHome is expected in the United States market to develop rapidly. But murphy did not disclose LendingHome valuation, also did not disclose the deal of other information. Previously, including AssetAvenue, RealtyShares and PatchofLand P2P mortgage companies have completed a new round of financing.