Same-day mortgage application fintech LendUs has raised a $5 million in Seed funding.
The round for the embedded finance platform was led by Carthona Capital, and attracted nearly double the committed capital before it was capped.
LendUs was founded in 2023 by 26-year-old CEO Dean Mendelowitz, a former data scientist at Zip, supported by Brad Lindenberg and Graham Mendelowitz.
Lindenberg sold US BNPL QuadPay to Zip for $403m and Graham Mendelowitz founded specialist mortgage lender MKM Capital, which was acquired by MA Financial Group.
The LendUs plug-and-play model enables brands, member organisations and digital platforms to offer white-labelled home loan broking to customers.
The platform uses data analytics, Open Banking and AI to compare 30+ lenders, alongside a cashback program and the ability complete most of the application process in minutes, supported by a dedicated home loans advisor.
It now has more than 20 integrated partnerships and 10,000-plus users have compared home loans via the platform.
Dean Mendelowitz said company is investing in AI to automate application preparation and reducing the manual work and time needed for the mortgage process.
“We’re seeing strong demand from organisations that want to offer a home loan solution to their members or customers but don’t want to build the infrastructure themselves,” he said.
“Our platform allows partners to deliver a digital, choice-driven and rewards-backed home loan experience directly inside their ecosystem.”
