Loansnap’s CEO Karl Jacob discussed with PYMNTS how Loansnap’s AI is transforming the mortgage industry.

LoanSnap today announced that it has raised an additional $4.7 million in a round led by Thomvest Ventures, along with existing investors, including Baseline Ventures, Branson’s Virgin Group, Core Innovation Partners, Montana’s Liquid 2 Ventures, OVO Fund, Transmedia Ventures, and angel investors. This brings its total capital raised to $17 million and will be used to expand its offerings and team in the months to come.

LoanSnap, a tech startup that claims it uses artificial intelligence to help borrowers obtain “smart loans” and boasts Richard Branson’s Virgin Group and Joe Montana’s Liquid 2 Ventures among its backers, announced Tuesday that it raised $4.7 million to expand its offerings.

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LoanSnap, a San Francisco-based mortgage startup, raised $8 million in Series A funding. True Ventures led the round, and was joined by investors including Baseline Ventures, Virgin Group, Core Innovation Partners, Liquid 2 Ventures, OVO Fund and Transmedia Ventures.