Back in June, LoyaltyExpress, a provider of marketing automation and CRM solutions for mortgage companies and banks, announced that it secured an investment from New Capital Partners, a private equity firm focused on financial and health care services.
At the time, LoyaltyExpress said that it planned to use the funding from New Capital to expand its business.
Six months later, LoyaltyExpress is putting that new money to use and acquiring Lending Manager, a point-of-sale and website creator for lenders of all sizes.
According to the companies, the acquisition and integration of both companies' technologies will “help automate lead flow and associated marketing for all aspects of the loan process.”
In a release, the companies say that the combined company will service 115 lenders with more than 15,000 loan officers across all platforms.
“The ever-increasing expectation of consumers during the lending process led us to this merger,” Wayne Steagall, founder of Lending Manager, said. “We are thrilled to partner with LoyaltyExpress. We look forward extending our solutions backed with the power of the LoyaltyExpress creative and fulfillment teams.”
Financial terms of the deal were not disclosed.
“After extensive due diligence and market research, it became immediately apparent that Lending Manager delivers incredibly efficient and automated lead capture systems and attractive corporate and loan officer websites,” Jeff Doyle, chief executive officer of LoyaltyExpress, said.
“Wayne and his team have developed integrations with over 75 CRM, loan origination, lead management, and point-of-sale systems which is a growing requirement of any solution in the mortgage industry,” Doyle added. “We look forward to integrating CustomerManager with Lending Manager.”