Fintech Lending Platform Secures Top 50 Spot on List of Fastest-Growing Companies in Financial Services
LenderClose Ranks No. 45 of Fastest-Growing Financial Services Companies on the 2022 Inc. 5000 List
(Des Moines, IA – August 17, 2022) – LenderClose, the fintech lending platform now used by more than 400 credit unions and banks, earned the No. 45 spot on the 2022 Inc. 5000 list of fastest-growing companies in the financial services category. The company was also ranked No. 2 in Iowa and No. 564 overall with a three-year revenue growth rate that soared to 1,117 percent.
Known as a hallmark of entrepreneurial success, the Inc. 5000 ranks privately held companies by overall revenue growth over a three-year period. The honor puts LenderClose in the top 0.007 percent of the more than 8 million companies that submitted applications.
LenderClose, which was recently awarded the prestigious Contemporary CUSO of the Year award by the National Association of Credit Union Service Organizations (NACUSO) and named to the 2022 Best Tech Startups in Iowa List by Tech Tribune, completed a $10 million series B funding round in 2021 and has seen significant growth in revenue, product offerings, employees and executive leadership.
Founder and CEO Omar Jordan credits the fintech’s rapid growth to the LenderClose team and its clients. “No founder builds alone,” he said. “We brought on the right people at the right time, for each stage of the company’s growth. And, we’ve had the great fortune of having clients who are willing to build alongside our product experts, developers and technologists to evolve borrower and lender experiences. Our job is not done. We’re paving a new standard for what the lending experience needs to be. Our mission is to enable and empower every progressive home equity and real estate lender to lend at the speed of the borrower.”
The proprietary LenderClose technology platform automates home equity lending processes at scale. With home equity levels at an all-time high, borrowers and lenders share the need for streamlined and faster experiences from application to closing. Speed, efficiency and customer experience are major competitive priorities for local lenders like credit unions and community banks that leverage LenderClose technology to advance lending capabilities.
About the Inc. 5000 Methodology
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
LenderClose is a proprietary, technology-focused lending platform that automates home equity lending processes at scale, delivering an exceptional experience for lenders and borrowers. Based in West Des Moines, Iowa, the rapidly growing company is focused on enabling credit unions and banks to automate much of their lending processes through configurable and out-of-the-box decisioning intelligence technology. To learn more, visit lenderclose.com.