Blend files to go public
B2B lending software company Blend Labs filed a confidential registration statement with the Securities and Exchange Commission on Friday, signaling its intent to enter the public markets.
The news follows the company’s acquisition of title insurance and settlement services company Title365 from Mr. Cooper Group and a $300 million Series G funding round announced in January.
Founded in 2012, Blend’s main product is a white-label lending software that enables banks to offer their customers a digital mortgage experience. The company has expanded its product line to include consumer banking products such as deposit accounts, credit cards, personal loans, and vehicle loans.
In 2018, the company entered the insurance space by forming an agency that’s licensed to sell property and casualty insurance products and according to LinkedIn, the company has around 20 people in its insurance unit.