Thursday, July 31, 2014

Privlo Gets $350M In Debt For Technology Driven Mortgage Loans

Los Angeles-based Privlo, a technology driven startup offering up mortgage loans to consumers, said this week that it has raised $350M in a debt financing round, along with $3.8M in equity. The equity funding came from Spark Capital and QED Investors; source of the debt funding was not announced. Privlo provides private origination of residential mortgages, focused on borrowers who do not conform to traditional, government-backed loans, all run via its online platform. The company is led by Michael Slavin. The company is in the midst of moving from Culver City to Pasadena.