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§ Private Profile · Berkeley, CA, USA
The Digital Mortgage Company.
Lendsnap has raised $120K across 1 funding round.
Key people at Lendsnap.
Lendsnap was founded in 2014 by Mike Romano (Founder/| Vice President of Business Development) and Orion Parrott (Founder/Founding CEO).
Lendsnap has raised $120K in total across 1 funding round.
The Digital Mortgage Company
Lenders will write $1.5T of home mortgages in 2017, and will have to evaluate every single borrower's ability to repay. This is expected to cost the industry $15B in human labor. We talked to these humans, and learned that they spend 1/3 of their time just asking other humans for documents and data that are almost universally available online. While the market is slowly moving to transactional data, Lendsnap is the only company helping lenders get ahead of the competition by delivering original electronic documents and data sets. That means portfolios of our lender customers stay completely liquid in the secondary market. No one else can offer that today.
Lendsnap instantly gathers the original borrower documents and data for lenders by linking to consumer financial accounts. We increase loan origination team productivity by 25%+ and save applicants several hours on each application as well. Our intuitive and easy-to-use workflow makes it easy and safe for borrowers to turn in and for loan officers to receive the necessary documents for lenders to make a credit decision.
As the only company delivering the right documents and data to originate non-agency loans such as VA, FHA, and subprime, we are able to work with all types of lenders. Furthermore, we are uniquely suited to serve mortgage brokers (12% market share) who have to remain flexible to the credit needs of their diverse borrowers. We are the only post-launch company that delivers actual electronic statements straight from source institutions, such as Bank of America, TurboTax, Chase, and hundreds more.
Lendsnap is a digital mortgage technology company based in Berkeley, California, focused on modernizing and digitizing mortgage lending processes. It builds a platform that automates borrower documentation by linking directly to consumers' financial and employer accounts, enabling lenders to receive original electronic documents and data sets instantly. This innovation serves mortgage lenders and brokers by increasing loan origination productivity by over 25% and saving applicants several hours per application. Lendsnap uniquely supports non-agency loans such as VA, FHA, and subprime, helping lenders maintain liquidity in secondary markets and offering a seamless, secure borrower experience[1][2][4].
Founded in 2014 by Orion Willow, who has an MBA from Berkeley, Lendsnap emerged from the need to improve the cumbersome, paper-heavy mortgage application process. Orion’s vision was to create a digital mortgage point-of-sale system that automates the collection of original bank statements and mortgage data directly from source institutions like Bank of America and Chase. The company gained early traction by being accepted into Y Combinator’s Summer 2016 batch, which helped expand its network and refine its product. Co-founder Mike Romano brought sales and business development expertise, further driving growth and partnerships[2][5].
Lendsnap rides the digital transformation trend in mortgage lending, addressing the industry's slow shift from traditional paper-based processes to data-driven, automated workflows. The timing is critical as lenders face increasing pressure to improve efficiency, reduce fraud risk, and enhance borrower experience amid rising competition and regulatory complexity. By delivering original electronic documents and linking directly to financial institutions, Lendsnap helps lenders maintain liquidity in secondary markets and adapt to evolving credit needs. This innovation supports the broader fintech ecosystem by enabling faster, more reliable mortgage origination and fostering greater adoption of digital financial services[1][2].
Looking ahead, Lendsnap is well-positioned to capitalize on ongoing digitization in mortgage finance, especially as lenders increasingly demand automation and data authenticity to stay competitive. Future growth may come from expanding integrations with more financial institutions, enhancing AI-driven underwriting tools, and deepening partnerships with mortgage brokers and lenders. As regulatory environments evolve, Lendsnap’s ability to deliver verified original documents could become a standard for compliance and risk management. Its influence may extend beyond mortgages into broader consumer lending, further shaping the fintech landscape.
In summary, Lendsnap’s pioneering approach to automating mortgage documentation and delivering original financial data sets it apart as a key player in the digital mortgage revolution, offering tangible productivity gains and improved borrower experiences.
Key people at Lendsnap.
Lendsnap was founded in 2014 by Mike Romano (Founder/| Vice President of Business Development) and Orion Parrott (Founder/Founding CEO).
Lendsnap has raised $120K in total across 1 funding round.
Lendsnap's investors include Alchemist Accelerator.
Lendsnap has raised $120K across 1 funding round. Most recently, it raised $120K Seed in August 2016.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2016 | $120K Seed | — | Alchemist Accelerator | Announced |
