Online mortgage lender Privlo rakes in $353.8 mln


Privlo, an online mortgage lender based in Santa Monica, Calif., has received $353.8 million in funding. This amount includes $3.8 million from Spark Capital and QED Investors as well as up to $350 million in debt financing from an undisclosed New York-based private real estate investment fund. The capital infusion will be used to expand the firm’s online lending platform.

According to Crunchbase, Privlo raised $2.1 million in seed funding from QED Investors in May 2013.

Privlo was launched in 2011 to help individuals who can’t obtain home loans or mortgages. Its peer-to-peer platform matches loan seekers with individual lenders.

Commenting on this latest round of funding, Privlo’s founder Michael Slavin, said, “Privlo, which takes a consumer-friendly approach, provides liquidity to an important segment of the housing market – the largest economic driver in the U.S. – and reduces the government’s exposure to the market. Traditional lenders rely on government agencies for funding and can only cater to a very specific kind of borrower.”

Photo courtesy of Shutterstock.


Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!

Sign up to our Newsletter

Receive updates from our PE HUB Wire and Top Stories of the Week newsletters:

We will not send you spam, and we don't share your email address with 3rd parties.