CrediVia Adds Multifamily Options to Financing Platform

CrediVia, the Raleigh, North Carolina online commercial real estate loan marketplace, has added multifamily investments to its platform. The move, just one year after the company’s debut at FinovateFall, will help the fintech startup bring its smarter, faster, and easier commercial lending process to more commercial real estate (CRE) lenders and borrowers.

“We came on the scene to specifically serve the niche vertical of hotel financing, the riskiest of CRE assets,” CrediVia co-founder and CEO Anuj Mittal said. “Our greater mission, however, has not changed: to provide speed, transparency, and ease of transaction to both the lender and the borrower.”

CrediVia offers a platform that enables interested CRE lenders and qualified borrowers to engage and connect securely. Borrowers benefit from a singular location where documents can be uploaded and then easily submitted to multiple lenders. Lenders benefit from a borrower pool that is pre-screened before being added to their queue. The result is an easier, more efficiently process for borrowers, and a greater closing rate for lenders.

Multifamily investments, the company’s Chief Commercial Officer Michael Richardson explained, are an ideal addition to CrediVia’s platform. Highlighting the absence of a “typical profile” for a multifamily investment, Richardson noted the “reasonable” risk of the investment and the opportunity for diversification multifamily investments can provide. He added that investing in these properties can also provide a way for institutions considering an expansion into CRE financing.

“Multifamily assets are a common stepping stone to more sophisticated CRE financing for many institutions looking to build or broaden their business lending portfolio,” said Richardson, who joined CrediVia last month. “CrediVia’s move into multifamily is a direct response to listening to the market, as responding with a solution that relieves the common pressures and interruptions found in these exchanges. We’re here to drive the loan process forward.”

Founded in 2018, CrediVia demonstrated its platform at FinovateFall 2018. The company added to its C-Suite talent with the hire of Trusha Patel as Chief Business Development Officer this spring.

Finovate Alumni News

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall Sneak Peek: CrediVia

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

CrediVia is launching an online marketplace for smarter, simpler, faster commercial real estate loans, initially focused on the hospitality segment.

Features

  • Efficiently captures complete, accurate commercial real estate loan application data
  • Connects single loan requests to multiple viable lenders
  • Provides reports and analytics for faster loan decisioning and approval

Why it’s great
CrediVia is establishing new standards for the way to credit CRE loans. Its platform identifies the story behind lender and borrower needs, producing lasting relationships.

Presenters

Anuj N. Mittal, CEO and Co-Founder
Mittal’s personal frustrations as both a borrower and banker inspired CrediVia. His vision is to eliminate the broken, impersonal financing that strains lender-borrower relationships and delays funding.
LinkedIn

Ajay Jain, Ph.D., Chief Product Officer and Co-Founder
Jain champions CrediVia’s product innovation and development. His 20+ years of experience includes building multiple commercial software applications for a startup that was successfully acquired.
LinkedIn

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.