Congratulations to StreamLoan on securing a $2M investment in the future of their business! The investment is a strong testimonial not only to the power of the company’s vision, but also to the robustness of their leadership team, support team, and execution thus far.
A visionary FinTech company, StreamLoan aims to transform the loan process, making it “simple, efficient, and digital for both the lender and customer” to purchase or refinance a mortgage or any other loan. In an industry that hasn’t changed substantially in more than a century, StreamLoan is paving a new way forward that includes an unwavering focus on the user experience, removing inefficiency and waste in both the process and the paper trail. (In fact, StreamLoan’s stated vision is “to enable a world free of paper-based transactions, saving millions of trees while reclaiming your time from inefficient processes.”)
Earlier this month, the San Francisco-based company secured $2M in seed funding from an impressive pool of investors that included firms such as Acorn Pacific Ventures and Whitespace Capital (which includes executives from both Facebook and Apple) and individual investors such as former Barclays Mortgage Bank CEO Steve Weston and Uber Director of Finance Rajiv Krishnarao. According to Weston as quoted by KnowTechie, “What made me really excited about investing was how the company brought together Silicon Valley’s best innovation with the deepest possible insider knowledge of the mortgage and real estate industries to deliver a more complete solution, more efficiently, than many rivals.”
At Distillery, we’ve long known that the team at StreamLoan is on to something big; we’re happy to see that the investment community agrees. The seed money will give StreamLoan the financial support they need to continue building the technology and business infrastructure required to sustain their mission, vision, and long-term strategy.
StreamLoan is one of the very first companies to have created a native mobile experience to support the mortgage lending process. At present, they are connected with more than 15,000 financial services companies, including “many of the large commercial banks, wealth management firms, insurance companies, payroll processors, tax providers” and other financial agencies.
StreamLoan’s service offers significant benefits for both lenders and customers. For customers, the benefits come primarily in the form of a simple, mobile digital experience that eliminates process-related hassles, streamlines communication, and provides a more efficient, customized experience overall. For lenders, the benefits include:
- The ability to drive revenue and business growth via real-time issue resolution, streamlined lead management, and a better customer experience
- Faster processing times, increased productivity, and reduced costs, given improved accuracy in loan files and data, greater flexibility in accessing and approving loan documents, and faster turnaround times
- Increased transparency and collaboration enabled by a consistent, efficient, and automated workflow that supports seamless document and data sharing, communication, electronic authorizations, and documentation creation
- Improved security and privacy supported by data encryption and an automatic audit trail
Here at Distillery, we love it when businesses use mobile app development to support transformative business models that disrupt and improve the way the world’s work gets done. Kudos to everyone at StreamLoan for your continued success! We can’t wait to see what’s next for your business.
Curious about how Distillery works with clients to create iOS and Android mobile apps that drive transformative business success? Let us know!