Approved

COMPANY FOUNDED: 2016
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getapproved.io


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Who We are



Close more loans, faster.™

Approved is on a mission to bring transparency, efficiency, and sanity to the mortgage experience. We build technology that agents, consumers, and lenders use every day to streamline the back office and provide a world-class experience for customers.


Four Questions for Approved:




What Makes Your Product Great?



Approved was started by two Redfin alums who set out to make consumers’ lives easier. Along the way, they were shocked at just how much time and money lenders themselves waste on a paper-based workflow. Approved makes it easy for any lender, big or small, to move their business online and compete with those that have spent hundreds of millions of dollars on technology.


What Key Challenge Does It Solve?



Approved provides transparency around home loans and reduces the time it takes get approved for one. It transforms an arduous process that can take weeks toward a simple one that takes just a few minutes. Rather than submitting pages of paper documents, borrowers can connect their online bank accounts and upload paystubs and tax returns securely online. Lenders in the closed pilot saw an average 50% reduction in the time it took to complete loan conditions.


Best Success Story?



Despite the millennial reputation for rapid tech adoption, our first borrower was a retiree from the Midwest who completed her loan app and document requests in just over an hour. She was working with a broker using Approved who has improved their loan package completion times from 5-7 business days to just over a day.


What Is Your Company Or Product Mantra, In 5 Words Or Less?



Transparency, efficiency, sanity to mortgages.


Presenters



Andy Taylor, CEO
Navtej Sadhal, CTO

Key Executives



Andy Taylor, CEO
Navtej Sadhal, CTO

Key Investors



Social Capital, Precursor Ventures, Graph Ventures, Bluesky Equities