Credit Karma, the personal finance company geared toward millennials, is acquiring digital mortgage application startup Approved for an undisclosed sum, the companies announced Friday. 

Credit Karma, the personal finance company geared toward millennials, is acquiring digital mortgage application startup Approved for an undisclosed sum, the companies announced today.

Approved app screenshot

Approved is a young company that launched in 2017 with $1 million in seed funding to provide a digital platform for small-to-medium sized lenders and mortgage brokers to reach prospective borrowers, via a website and mobile software. It was founded by Andy Taylor, former director of product at high-tech brokerage Redfin and Navtej Sadhal, who was a software developer and manager of Redfin’s platform and engineering teams.

“Working with Credit Karma gives us the resources and immediate scale to accelerate our mission-driven work, reaching significantly more homebuyers than we could have imagined when we started,” Taylor, Approved’s CEO, wrote in a blog post on Medium announcing the news.

After more than a decade of providing free credit scores and financial advice to a base of largely young professionals, Credit Kamra has seen many of its users get older and start considering the purchase of a home, Singhal told TechCrunch.

As we’ve expandedyou’ve seen us move from credit cards as a way to help members with that part of their life to first personal loans to auto — meaning auto loans, auto insurance,” Singhal said. “Today, we’re really talking more publicly about mortgage. Mortgage being for many of our members the most important financial decision they’ll make.”

Over the last two years, both major banks and newer mortgage brokerages have been trying to make it easier for homebuyers to apply for loans online.

Email Veronika Bondarenko

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Will you attend ICLV virtually or in-person? The agenda is packed with stellar speakers and sessions.Learn More×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription