US mortgage lender acquires majority stake in Vancouver mortgage tech startup

Apr 24 2019, 4:11 pm

Vancouver-based startup Lendesk has announced that Rock Holdings, the parent company of Quicken Loans, the United States’ largest mortgage lender, has acquired a majority stake in the company.

Lendesk is Canada’s premier FinTech company which provides technology to connect mortgage brokers with the country’s top lenders.

In a release, Rock Holdings’ investment will accelerate the development of Lendesk’s mortgage network with the goal of streamlining Canadian mortgage broker and lender workflows while increasing security.

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“Rock Holdings and Quicken Loans are FinTech pioneers, known for revolutionizing the mortgage industry with game-changing technology like Rocket Mortgage while also providing unmatched service to their clients – whether that’s for consumers or Quicken Loans’ thousands of American mortgage partners,” said Founder and CEO of Lendesk, Alex Conconi.

“At Lendesk, we are passionate about simplifying the home loan process for brokers and lenders in Canada. Our partnership with Rock Holdings will allow us to gain wisdom and insight from the world’s leading mortgage technology company, as we continue to improve the entire experience, from the time of application through closing.”

Through the investment, Lendesk now has access to Rock Holdings’ diverse portfolio of FinTech companies.

“It is very rare that you come across a new company that understands the important role that culture, technology, client service and innovation play in its success,” said CEO of Rock Holdings, Jay Farner.