LoanSnap Raises $10 Million

LoanSnap has secured $10 million from True Ventures, Morado Ventures, Work Play Ventures, Accelerator Ventures and MANTIS; interestingly MANTIS is a firm founded by the popular music group The Chainsmokers; existing investors Baseline, Thomvest, Virgin, Liquid21 and Ovo also participated; LoanSnap automates the loan process for mortgages by using AI to look at a consumer’s finances; LoanSnap believes they can save Americans $58 billion compared to one-size-fits-all loans; to date the company has helped consumers pay off $12 million in consumer debt; Business Insider shares more on what the company has been up to and how MANTIS got involved. Business Insider

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