Blend’s CEO Nima Ghamsari wants to talk less about the past decade’s fintech sugar high and more about recovering from the crash.
The company, founded in 2012 by Ghamsari, set out in the wake of the financial crisis to make applying for a mortgage “as easy as buying something online.” It now builds white‑label software that powers digital loan applications at major U.S. banks and credit unions across mortgages and other consumer banking products. The company rode the last boom to a 2021 IPO and a market cap north of $4 billion, but then rising rates crushed mortgage volumes and exposed how much of its growth had been surfing a once‑in‑a‑generation tailwind. Now, that market cap is hovering at $437.10 million.
