“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.

Strategic Investment Enables LoanSnap to Help More Americans Take Control of Their Financial Future

Here are seven types of tools and services that win over millennials and make it easy for them to track their finances, apply for loans and save money.