U.S. digital banking and lending start-up Milo attracts $ 6 million through seed funding round led by QED investors
Milo, an American digital banking and lending start-up, announced on Wednesday that it had secured $ 6 million as part of its seed funding round, led by QED Investors with the participation of MetaProp and 10X Capital.
Founded in 2018, Milo describes itself as a fintech company with a mission to imagine how consumers around the world access mortgage credit and financial solutions in the ‘borderless’ world.
“At Milo, we are building amazing digital solutions and rethinking what’s possible. Milo has built the leading mortgage lending solution for global consumers. By building our tech stack from scratch and putting together a world-class team, we’ve already loaned millions of dollars to amazing consumers. Milo is able to close loans in days, not months.
Milo further indicated that it has processed more than $ 100 million in loan applications, doubled its team and opened two offices in Miami and Colombia since the financing was finalized in the summer of 2020. The company also noted that ‘in 2020, it claims to have become the first company to do so. a fully digital remote lock for an international customer. While sharing more details about the development of the company, Milo Founder and CEO Josip Rupena said:
“Our mission is to reinvent the way consumers around the world access financial solutions in the United States – in a way that is truly right for them. Today that means offering a simple, fully digital home loan approach while providing an in-depth understanding of investing in the United States. This funding helps us move closer to achieving our mission for millions of consumers around the world. We are delighted to have QED and so many great investors on this journey with us.
Milo added that the start-up investment cycle will be used to support continued technological innovation and team growth.