About Approved
Approved is a Financial Services company based in San Diego (United States) founded in 2015, and was acquired by Credit Karma in August 2018. Mortgage lending processes are streamlined through Approveds online platform. Approved has raised $1 million across 2 funding rounds from investors including Credit Karma, Social Capital and Precursor Ventures. The company was acqui-hired. Its focus areas include FinTech, Banking Tech, Loan Life Cycle Management and Loan Origination. Its competitors include SimpleNexus, Roostify and Cloudvirga; 3 of its 3 listed competitors have raised funding.
Company details
Approved was founded in 2015 in San Diego, United States, and operates within the mortgage lending software sector. An online platform is provided for loan officers, account managers, underwriters, and lenders to facilitate streamlined lending operations. Borrower dashboards include automated reminders and DocVision camera scanning, while lender dashboards feature loan program templates, DocCast for importing bank statements and tax forms, and eSignatures. White-label solutions are offered for customized branding.
- Headquarters San Diego, United States
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website getapproved.io
- Social LinkedIn X Facebook
- Acquired by Credit Karma (Aug 2018)
- Total Equity Funding$1M (USD)
in 2 rounds
- Latest Funding Round$1M (USD), Seed
Apr 2017
- InvestorsCredit Karma
& 5 more
- Acquired byCredit Karma
(Aug 2018)
Funding Insights of Approved
Approved has successfully raised a total of $1M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $1 million completed in April 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1M
- Total Rounds 2
- Last Round Seed — $1M
- Investors Count 5
All 2 funding rounds of Approved with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2017 | $1M | Seed | – | Social Capital, Precursor Ventures | |
| May 2016 | Seed | – | EvoNexus | – |
6 investors in total: 6 institutional.
Investors in Approved
Approved has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include Credit Karma, Social Capital and Precursor Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
US focused VC firm investing in seed & growth stage companies | 2011 | socialcapital.com | Menlo Park, United States | |
Venture capital investments in pre-seed and seed stages, focusing on founders. | precursorvc.com | |||
| blueskyequities.com | ||||
Early-stage venture capital funding is provided to startup founders. | graphventures.com | San Francisco, United States | ||
12-18 month incubation programs are provided for startups in California. | evonexus.org | San Diego, United States | ||
Credit score checking and comparison platform for financial products | 2007 | creditkarma.com | San Francisco, United States |
Investor details for Approved
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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Timeline of Approved
4 dated milestones of Approved across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Approved is founded.
- Funding First funding round.
- Funding Latest funding round, Seed, of $1.0M.
- Exit Acquired by Credit Karma.
Competitors of Approved
Approved has 3 listed competitors in our database, 3 of them funded. They include SimpleNexus, Roostify and Cloudvirga.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| simplenexus.com | 2011 | Draper, United States | $128M | 113 | Loan life cycle management platforms are developed for mortgage lenders. | |
| roostify.com | 2012 | Burlingame, United States | $61.71M | Digital loan origination solutions are provided for mortgage lenders. | ||
| cloudvirga.com | 2015 | Irvine, United States | $100.51M | Cloud-based automation of mortgage lending processes is provided. |
Detailed competitors of Approved
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
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Top companies in Banking & FinTech Platforms
3 companies that operate in the same segment as Approved (Banking & FinTech Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online business banking and financial workflow tools are provided. | 2010 | San Francisco, California, United States | USD 546 M | USD 2.71 M | 1,807 | |
Digital banking services are offered to individuals via mobile apps. | 2012 | San Francisco, California, United States | USD 3.15 B | USD 1.96 B | 2,516 | |
Digital sustainable banking services are offered to consumers. | 2013 | Los Angeles, California, United States | USD 865 M | 237 |
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Related news about Approved
Complete news archive for Approved
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Frequently Asked Questions about Approved
Approved was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Approved is headquartered in San Diego, United States. It is registered at San Diego, California, United States.
Approved is a funded company, having raised a total of $1M across 2 funding rounds to date.
Approved was founded in 2015 in San Diego, United States, and operates within the mortgage lending software sector. An online platform is provided for loan officers, account managers, underwriters, and lenders to facilitate streamlined lending operations. Borrower dashboards include automated reminders and DocVision camera scanning, while lender dashboards feature loan program templates, DocCast for importing bank statements and tax forms, and eSignatures. White-label solutions are offered for customized branding.
Approved's top competitors include Cloudvirga, SimpleNexus and Roostify.
Approved has 6 investors. Key investors include Credit Karma, Social Capital, Precursor Ventures, Bluesky Equities, and Graph Ventures.
Yes. Approved was acquired by Credit Karma in August 2018.