Staff of Reuters 2 minutes Reuters (Reuters) – Blend Labs Inc, a mortgage software platform, said on Tuesday that it plans to raise up to $360 million in its first public offering in the United States, with a valuation of roughly $4 billion. After a funding round in January this year, the business, which had filed confidentially for its IPO in April, was valued at $3.3 billion. Blend’s cloud-based software platform digitizes the banking experience for customers, making it more comfortable for them from the time they begin an application for a loan or a deposit account to the time they digitally sign the final documents. Nima Ghamsari, a former employee of Palantir Technologies Inc and currently the CEO of Blend, co-founded the company in 2012. The startup’s president is Timothy Mayopoulos, a former chief executive officer of Fannie Mae. Blend intends to sell 20 million shares at a price of $16 to $18 each, according to an amended filing. The IPO’s primary underwriters are Goldman Sachs & Co, Allen & Company, and Wells Fargo Securities. Blend will trade under the symbol “BLND” on the New York Stock Exchange. Niket Nishant contributed reporting from Bengaluru, and Vinay Dwivedi edited the piece./n
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