TurnKey Lender, a provider of intelligent lending automation, decision management, and risk mitigation solutions, has raised a Series A1 funding round from OSK Ventures, Vertex Ventures, Majuven, and Western NIS. The final sum of investments is undisclosed.
Funded in 2014, TurnKey Lender has become a recognized leader of the lending automation market which is reflected in the numerous awards the company has received and the rapid growth the team has achieved over the last years. TurnKey Lender’s platform supports automation of the entire lifecycle of a loan for non-bank lenders: from the application, AI-driven origination, and underwriting to servicing, reporting, and collection. The cloud-based solution is tailored to meet the needs of the emerging alternative lending market and provides business with the level of technology previously accessible only to large-scale financial institutions.
This funding round is aimed at fueling further product development, simplifying project implementation, and increasing the company’s footprint in the existing and new markets. TurnKey Lender plans to particularly extend its presence in the US, Europe, and Southeast Asia. The tangible goals include opening a new office in Kuala Lumpur, which would be focused on supporting Asian operations, devoting more resources to R&D, and streamlining cross-border business development. Notably, Vertex Ventures has previously invested $2m in TurnKey Lender in 2017.
Dmitry Voronenko, TurnKey Lender’s CEO and co-founder on securing the new funding round:
“We see this new round of investments as a vote of confidence in the ideals TurnKey Lender pursues and the recognition of the growth we’ve already achieved, especially over the last year. We believe that the world can be changed to the best through technology and by providing alternative lenders with intelligent, easy-to-use, and affordable solutions we’re lowering the lending niche entry barriers and making loan products more accessible across borders. We will use this funding influx to further automate the entire lending process, serve our clients even better, and tap into the new markets and demographics. We take pride in our work and we will make sure to do our best to keep moving the entire lending industry forward.”
In order to support the expansion plans, TurnKey Lender is actively hiring new technical, business development, and marketing talent. You can find the current openings and apply here.