# LoanSnap

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/loansnap

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.goloansnap.com
- Total disclosed funding: $43M
- Latest round: Series B (May 4, 2021)
- Investors on record: 11

## About

LoanSnap, Inc. is a financial technology company that simplifies the mortgage refinancing process, providing innovative lending solutions tailored for consumers to improve their financial health and streamline loan management.Founded in 2018 in San Francisco, US, LoanSnap, Inc. specializes in lending solutions that optimize refinancing for consumers. The company has successfully closed 4 deals and raised a total of USD 30.00 mn through its latest Series B round on May 4, 2021, led by True Ventures and supported by several prominent investors. The company's leadership includes co-founders Allan Carroll and Karl Jacob, with Karl Jacob serving as CEO. Allan Carroll has previously founded other companies, enhancing the team’s entrepreneurial expertise.LoanSnap primarily offers a suite of lending solutions that include cash-out refinance loans, home equity lines of credit (HELOCs), and traditional mortgage options. These products are designed to help customers reduce interest expenses and access liquidity efficiently. The company focuses on a user-friendly platform that provides real-time updates and facilitates the application process for a diverse clientele, particularly in the U.S. market, where fluctuating interest rates and housing demands are prominent.LoanSnap generates revenue from its lending services, primarily by charging interest on the loans it originates. The direct-to-consumer model allows clients to apply for loans through the LoanSnap platform, with interest rates and terms tailored to market conditions and borrower creditworthiness. The SMART Loan, a key product of LoanSnap, aims to maximize savings for customers and contributes significantly to the company’s revenue through ongoing interest payments.In May 2021, LoanSnap raised USD 30.00 mn in Series B funding, which will be utilized to expand into new loan types and enhance its presence across the United States. The company’s strategy includes launching additional innovative loan products aimed at meeting the diverse financial needs of Americans. This expansion initiative is aligned with LoanSnap's commitment to improving financial accessibility for U.S. consumers.

## Funding rounds

- Series B, May 4, 2021, $30M — True Ventures, Thomvest Ventures, Virgin.com Limited, Baseline Ventures, Liquid 2 Ventures, WorkPlay Ventures, Avanta Ventures, Mantis
- Series A, Jan 29, 2019, $4.7M — Thomvest Ventures, Virgin.com Limited, Baseline Ventures, Core Innovation Capital, OVO Fund, Liquid 2 Ventures, Transmedia Ventures
- Series A, Jul 19, 2018, $8M — True Ventures, Virgin.com Limited, Baseline Ventures, Core Innovation Capital, OVO Fund, Liquid 2 Ventures, Transmedia Ventures

## Investors

- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Series A, Series B
- Virgin.com Limited — Series A, Series B
- Baseline Ventures (https://capitalatlas.ai/funds/baseline-ventures) — Series A, Series B
- Core Innovation Capital (https://capitalatlas.ai/funds/core-innovation-capital) — Series A
- OVO Fund (https://capitalatlas.ai/funds/ovo-fund) — Series A
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Series A, Series B
- Transmedia Ventures — Series A
- Thomvest Ventures (https://capitalatlas.ai/funds/thomvest-ventures) — Series A, Series B
- WorkPlay Ventures — Series B
- Avanta Ventures (https://capitalatlas.ai/funds/avanta-ventures) — Series B
- Mantis (https://capitalatlas.ai/funds/mantis) — Series B