Blooma raises $2.7m in first seed round
Lenders decision making platform, Blooma.ai, has raised $2.7 million in its first seed round and launched its mission to change the way commercial and private lenders, as well as other organisations, operate.
The financing, led by Floodgate, will be used to expand all the AI company’s teams and scale the business ready for accelerated growth.
Abstract Ventures, Crescent Ridge Partners and Serra Ventures also participated, and Floodgate’s partner, Arjun Chopra, has taken a board seat on Blooma.
“The Blooma platform improves lending profitability and quickly aligns lenders with desired borrower profiles,” says Blooma co-founder and CEO, Shayne Skaff. “It enables them to make better decisions and speed the overall origination process, from prioritising the right deals, to creating configurable workflows and risk settings, to driving simplicity and productivity.”
Founded last year, Blooma offers the first AI-driven platform for commercial lenders which starts at the borrower’s request and ends at the credit memo stage, reducing loan origination time and costs by as much as 75%.
The company wants to license the Blooma platform to lenders, so it can give clients the ability to get instant feedback on commercial real estate valuations in the underwriting process to improve loan decisions.