LoanSnap, a provider of artificial intelligence-backed smart-loan technology, has announced that it is now offering mortgage options in Florida and Illinois.

The expansion followed the launch of its AI-powered lending tool in California and Colorado.

LoanSnap, the world’s first smart loan technology, is now available to help consumers in Florida and Illinois save thousands of dollars a year on their mortgage and take control of their money. The expansion comes as part of LoanSnap’s commitment to bringing smart loans to more Americans, with offerings now available in multiple states, including California, Colorado, Florida and Illinois.

The startup uses AI and machine learning to analyze a person’s financial situation in seconds and then provide options to save money. […] (It) sorts through thousands of loans to find the best one based on the borrower’s situation.

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.