Founded in 1997, The Loan Page is one of the oldest Internet mortgage lead generation firms in the United States. The Company’s business model is to obtain information from potential mortgage loan borrowers, and sell this information as “leads” to mortgage brokers and lenders. The Company’s unique product offering has been proven effective and beneficial for both the borrower and the mortgage professional and has enabled it to grow rapidly and profitably while pursuing its mission of becoming the most cost-effective marketing solution available in the mortgage industry. Since inception, The Loan Page has transmitted over $50 billion in mortgage loan quote requests and has served hundreds of clients nationwide.
TheLoanPage.com retained Outcome Capital to sell the Company because of the firm’s experience designing and running effective auction processes as well as the Firm’s deep understanding of Internet advertising and lead generation models. The principal owners of the Company were interested in exploring a sale of the business to pursue other professional opportunities.
Outcome Capital was successful in generating significant interest in TheLoanPage.com and ultimately sold the Company to Battery Ventures, a leading venture capital firm focused on investing in technology companies at all stages of growth. As part of the acquisition, Stein Kretsinger, formerly a founding executive of Advertising.com and Entrepreneur-in-Residence at Battery Ventures, became CEO of the Company and Mark Sherman, general partner, Battery Ventures joined the Company’s Board of Directors as Chairman. In addition, the company relocated to San Francisco, California from Baltimore, Maryland.
“We plan on combining The Loan Page’s current success and leading market position with Battery’s resources to drive an even better solution for our borrowers and lending institutions,” said Stein Kretsinger.
“The Loan Page is well positioned at the center of a number of key trends in the online mortgage industry — the shift from offline to online marketing, the rise of Internet lead intermediaries, and mortgage banks and brokers seeking to take advantage of these industry changes,” said Mark Sherman. “We are very excited about our partnership with The Loan Page and look forward to working with the new management team to take the company to the next level.”
Outcome Capital acted as the exclusive investment banker and financial advisor to TheLoanPage.com in connection with the transaction.