EarnUp Closes $31 Million Series C Funding Round
March 15 2022 - 08:30AM
EarnUp, a San Francisco-based Fintech company
offering payment and data solutions for the mortgage industry,
closed an oversubscribed $31 million Series C financing round.
Included in this round are new strategic investors, LendingTree
(NASDAQ:TREE) and KeyBank (NYSE:KEY), in addition to leading
institutional investors, Bain Capital Ventures, SignalFire,
Blumberg Capital, and Flourish Ventures.
With this latest round of funding, EarnUp will build on its
mission to create a financial system that works for everyone by
expanding its reinvention of payment and data flows for the
mortgage industry that support borrowers, lenders, and servicers.
The company’s solutions reduce damaging delinquent and missed
payments that harm credit scores and mortgage portfolios, and also
streamline business operations in an effective, inclusive, and
compassionate way.
During their 2022 Analyst and Investor Event, J.D. Moriarty,
president of marketplace & chief operating officer at
LendingTree spoke about the recent investment: “Our financial and
strategic investment in EarnUp is consistent with our goal to
improve the customer experience. It is also a natural fit with our
comprehensive home and consumer loan marketplaces. We’re excited to
transform these industries together.”
EarnUp is also partnering with leading banks to further its
reach and streamline the borrower experience. “At KeyBank, we want
to help make change for the better,” said Clark H. I. Khayat,
executive vice president and chief strategy officer, KeyCorp.
“Embracing new technology and investing in innovative fintech
companies like EarnUp helps us improve customer satisfaction–and
allows us to provide our clients and communities with accessible
payment solutions.”
Since its last round of funding, EarnUp has diligently worked to
digitize the mortgage payments process and help people achieve
financial clarity from purchase or refinancing all the way through
to loan and close. This produces better outcomes and decreases
costs that can be passed on to borrowers, ensuring a win-win
solution for consumers, lenders, and servicers. All parties
involved pay less in fees, time, and financial distress–improving
overall borrower financial health as well as portfolio
performance.
“EarnUp’s values are exemplified with this latest round of
funding. We are fearlessly challenging a flawed financial system
and creating an environment of exceptional people and
partnerships,” said Nadim Homsany, EarnUp co-founder and CEO. “The
addition of strategic investments from LendingTree and KeyBank
shows that EarnUp is moving in an intentional direction that will
have a positive impact on the mortgage and consumer debt
industries.”
D.A. Davidson served as exclusive strategic and financial
advisor to EarnUp.
About EarnUpEarnUp is an award-winning,
consumer-first payments technology platform that intelligently
automates loan payment scheduling. With a mission to create a
financial system that can work for everyone, EarnUp is reinventing
payment and data flows in real estate ecosystems, origination,
mortgage, and Fintech. Currently the company serves lenders,
servicers, and borrowers across the U.S. and manages over $10
billion in loan payments. EarnUp’s platform and enterprise
solutions help mortgage companies reduce risk and streamline
business operations in a compassionate way while improving overall
borrower financial health and ensuring that they have access
to the best credit products available based on their financial
standing. Investors in EarnUp include Bain Capital Ventures,
SignalFire, Blumberg Capital, and Flourish Ventures. To learn more,
please visit www.EarnUp.com.
Press Contact:Johnathan FlowersHead of
Marketing415-894-2002press@earnup.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4d102b75-e455-484b-a2c4-240fb6ae0fe4
A video accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4d102b75-e455-484b-a2c4-240fb6ae0fe4
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