VC-backed Blend forms advisory board, ex-Treasury Secy Lew will serve as chair


Silicon Valley-based tech company Blend has formed an advisory board that will be chaired by former U.S. Treasury Secretary Jacob J. Lew. Also, the company has hired Marc Greenberg as its new head of finance. Blend’s backers include Greylock Partners, Emergence Capital, Founders Fund, Andreessen Horowitz, 8VC and Lightspeed Venture Partners.

PRESS RELEASE

SAN FRANCISCO, Sept. 13, 2018 /PRNewswire/ — Blend, a Silicon Valley technology company propelling the consumer lending industry into the digital age, today announced the formation of an Advisory Board to be chaired by former U.S. Treasury Secretary Jacob J. Lew, and the hiring of Marc Greenberg as the company’s new head of finance.

The appointments follow a period of rapid growth for Blend’s digital lending platform, which now routinely processes more than $1 billion in mortgage applications per day and 100,000 applications per month. Now 340 employees, up from 203 a year ago, Blend has quadrupled its customer base to comprise more than a quarter of the U.S. mortgage market. The company has also expanded into new lines of business, launching its own tech-forward homeowners insurance agency last month.

Blend CEO Nima Ghamsari said, “We have an opportunity to make a lasting impact on the technology that powers mortgage and consumer finance more broadly. Jack is the right fit to lead our advisory board with his unique combination of leadership experience at Treasury and in financial services. Having the chance to partner with such a respected leader will be invaluable as we continue to collaborate with the industry.”

Under Lew’s leadership, Blend’s Advisory Board will counsel the company on emerging trends, strategic matters, regulatory issues, and key hires. The company will be complementing his expertise with a variety of business and tech leaders.

Lew said, “Blend is transforming home finance, which is critical to our nation’s economy. The company is uniquely positioned to simplify more areas of consumer lending in partnership with banks, lenders, and other technology providers. I look forward to developing the Advisory Board and working with the Blend team to help them drive positive change for consumers.”
Greenberg joins Blend from Pixar Animation Studios, where he spent 15 years leading its finance operations, most recently as VP of finance and strategy.

“As we continue on a high-growth trajectory, Marc’s operational finance experience will help us grow our business and achieve operational excellence as we scale,” said Ghamsari. “We’re extremely happy to welcome him to Blend.”

“The combination of a talented team with an innovative product that fulfills a real market need makes Blend a true force to be reckoned with. Because of the platform’s utility to financial organizations, loan teams, and consumers, and the flexibility to encompass other loan products, the entire value chain is improved with the help of Blend. I’m excited to be part of the team that will bring the vision of powering a frictionless, compliant, and more accessible consumer lending ecosystem to fruition,” said Greenberg.

About Blend
Blend is a Silicon Valley technology company propelling the $40+ trillion consumer lending industry into the digital age through partnerships with banks, lenders, and other technology providers. Blend’s cloud-based technology delivers speed and efficiency to lenders so they can serve the modern borrower and safely navigate the industry’s changing rules and regulations.
Founded in May 2012, Blend is backed by Greylock Partners, Emergence Capital, Founders Fund, Andreessen Horowitz, 8VC, Lightspeed Venture Partners, and other leading venture investors. To learn more, visit blend.com and connect with us at twitter.com/blendlabsinc.

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