BLEND Funding, Investors & Competitors

BLEND has raised $177M across 3 funding rounds, most recently a $151M undisclosed-stage round in April 2022.

See full BLEND profile

Last BLEND funding round

$151M

Undisclosed stage · Apr 2022

Cumulative funding BLEND raised

$177M

across 3 funding rounds

Key investors in BLEND

  • Cyrus Ardalan
  • Jean-Philippe Blochet
  • Nico Paraskevas
  • Maurice Levy

BLEND Overview

About BLEND

BLEND is a London-based investment platform enabling co-investment in real estate loans for institutional and retail investors. It focuses on mid-market development projects underserved by banks. The peer-to-peer model connects lenders with borrowers for short-term bridging finance. Launched in 2015, BLEND has facilitated millions in deals across the UK property sector.


Founded

2016

HQ

United KingdomLondon

Status

Privately held

Customer focus

B2B

Revenue model

Commission

BLEND Funding History

BLEND has raised a total of $177M across 3 funding rounds.

BLEND's first fundraising round was a $13M seed round in December 2018. The most recent completed round was a $151M undisclosed-stage round in April 2022.

BLEND funding rounds

BLEND funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2022Undisclosed stageMaurice Levy; Nico Paraskevas; Jean-Philippe Blochet; Cyrus Ardalan$151MBlend Labs, founded in 2012, provides a cloud-based platform for banks, fintechs, and credit unions to digitize consumer banking workflows, focusing on mortgages, credit cards, deposits, and lending; it expanded into title insurance via the 2021 $422 million acquisition of Title365. The company went public via IPO in July 2021 raising $360 million, following a Series G round of $300 million in January 2021 at $3.3 billion valuation led by Coatue and Tiger Global, with prior rounds including Series F $75 million in 2020. The closest matching round is Blend Labs' $150 million investment from Haveli Investments in April/May 2024, structured as Series A convertible preferred stock at $3.25 per share conversion price, primarily to repay credit agreement debt ($145 million) with remainder for general purposes; Haveli CIO Brian Sheth joined the board. In 2022, Blend processed $1.7 trillion in loan applications and held over 23% US mortgage market share in H2. Latest reported total revenues were $156.8 million (with $109.5 million from platform operations), likely for full year 2023 per financial statements. Post-2024 developments include partnerships with Fannie Mae, credit unions, and Citizens Bank.
Feb 2022Series ANico Paraskevas (lead); Jean-Philippe Blochet; Cyrus Ardalan$13MBlend Network is a peer-to-peer property lending platform operating in the UK that specializes in development finance for mid-sized residential property developers. The platform connects lenders with property brokers and developers seeking financing for residential property development projects. In February 2022, Blend Network raised £10 million in an oversubscribed institutional funding round led by venture capital investor Nico Paraskevas, with participation from existing investors including Cyrus Ardalan (OakNorth Bank chair and former Barclays Vice Chairman) and Jean-Philippe Blochet (co-founder of macro hedge fund Brevan Howard). The company announced it would use the funding to scale its origination team and invest in technology to expand services for property brokers. Blend Network reported strong traction, having doubled its lending volumes annually since 2019 despite pandemic impacts, and had transitioned to draw less than 10 percent of its funding from restricted retail investors, indicating a shift toward institutional capital.
Dec 2018SeedCyrus Ardalan (lead)$13MBlend Network is a UK-based peer-to-peer lending platform focused on property development financing. The platform launched officially in January 2018 and had lent £5.8 million across 22 loans with zero defaults as of the interview date. The company offers debt investments to retail investors at fixed rates between 8-15% per annum, with a minimum investment of £1,000 per loan. In December 2018, Blend Network closed an equity funding round backed by high-profile investors including Cyrus Ardalan (former Vice Chairman of Barclays and Chairman of OakNorth Bank), Jean Philippe Blochet (co-founder of Brevan Howard hedge fund), and Maurice Levy (former CEO of Publicis Group). The company positioned itself as profit-focused and expected to reach profitability in 2020.

Who has invested in BLEND?

4 investors have backed BLEND across its funding rounds, including Cyrus Ardalan, Jean-Philippe Blochet, Nico Paraskevas and Maurice Levy.

Lead investors include Nico Paraskevas and Cyrus Ardalan.


BLEND Investors

Investors in BLEND by funding rounds participated
InvestorHQRoundsRoleFirst check
Cyrus ArdalanUnited KingdomLondon3LeadDec 2018
Nico ParaskevasSwitzerlandBaar2LeadFeb 2022

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BLEND Competitors

BLEND competitors include listed companies like Charles Schwab and Robinhood, and private ones like DiversyFund, Willow Wealth, PropShare Capital and Snapdocs.

Public and private companies comparable to BLEND
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
DiversyFundUnited StatesSan Diego, CAPrivate$12M-$90M7.5x
Willow WealthUnited StatesNew York City, NYPrivate$100M-$1.3B-
PropShare CapitalIndiaBangalorePrivate--$170M-
SnapdocsUnited StatesSan Francisco, CAPrivate$152M-$1.5B9.9x
Charles SchwabUnited StatesUnited StatesPublicly listed$24B$14B$181B6.4x
RobinhoodUnited StatesUnited StatesPublicly listed$4.5B$2.2B$99B21.0x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Charles Schwab$24B$14B7.3x6.4x12.7x10.9x
Robinhood$4.5B$2.2B23.5x21.0x48.0x38.4x
Brookfield$75B$32B6.1x59.5x14.4x64.8x
Brookfield Asset Management$4.6B$3.2B17.6x13.6x25.1x24.6x
CITIC Securities$11B$5.7B5.2x4.4x10.2x8.3x
Coinbase$7.2B$1.8B6.1x7.6x24.2x27.2x
Guotai Haitong Securities$9.3B-4.7x3.4x--
Interactive Brokers$10B$9.1B4.8x6.9x5.4x8.9x

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Common questions about BLEND

When was BLEND founded?BLEND was founded in 2016.
Where is BLEND headquartered?BLEND is headquartered in London, United Kingdom.
Is BLEND publicly listed?No, BLEND is a private, VC-backed company.
How much funding has BLEND raised?BLEND has raised $177M across 3 funding rounds.
What was BLEND's last funding round?BLEND's last funding round was a $151M undisclosed-stage round in April 2022.
Who are BLEND's investors?BLEND's investors include Cyrus Ardalan, Nico Paraskevas, Jean-Philippe Blochet and Maurice Levy.
Which companies are comparable to BLEND?Companies comparable to BLEND include DiversyFund, Willow Wealth, PropShare Capital, Snapdocs, Charles Schwab and Robinhood.

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