LenderClose, the fintech lending platform now used by more than 400 credit unions and banks, earned the No. 45 spot on the 2022 Inc. 5000 list of fastest-growing companies in the financial services category. The company was also ranked No. 2 in Iowa and No. 564 overall with a three-year revenue growth rate that soared to 1,117 percent.
Known as a hallmark of entrepreneurial success, the Inc. 5000 ranks privately held companies by overall revenue growth over a three-year period. The honor puts LenderClose in the top 0.007 percent of the more than 8 million companies that submitted applications.
LenderClose, which was recently awarded the prestigious Contemporary CUSO of the Year award by the National Association of Credit Union Service Organizations (NACUSO) and named to the 2022 Best Tech Startups in Iowa List by Tech Tribune, completed a $10 million series B funding round in 2021 and has seen significant growth in revenue, product offerings, employees and executive leadership.
Founder and CEO Omar Jordan credits the fintech’s rapid growth to the LenderClose team and its clients. “No founder builds alone,” he said. “We brought on the right people at the right time, for each stage of the company’s growth. And, we’ve had the great fortune of having clients who are willing to build alongside our product experts, developers and technologists to evolve borrower and lender experiences. Our job is not done. We’re paving a new standard for what the lending experience needs to be. Our mission is to enable and empower every progressive home equity and real estate lender to lend at the speed of the borrower.”
The proprietary LenderClose technology platform automates home equity lending processes at scale. With home equity levels at an all-time high, borrowers and lenders share the need for streamlined and faster experiences from application to closing. Speed, efficiency and customer experience are major competitive priorities for local lenders like credit unions and community banks that leverage LenderClose technology to advance lending capabilities.