SAN FRANCISCO, Nov. 17, 2021 (GLOBE NEWSWIRE) — Consumer-first payments platform EarnUp today announced that with a 2,300% growth rate over the past three years it ranks #75 overall and #20 in the Bay Area on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology companies in North America. EarnUp’s ability to serve the core needs of borrowers, lenders, and servicers by intelligently automating and optimizing loan payments so that all parties benefit has made it an ideal solution for the mortgage industry and fueled this rapid growth.
“We are excited to take our place among the fastest growing technology companies in North America,” said Nadim Homsany, EarnUp co-founder and CEO. “Home ownership is the American Dream, but it is often a tale of two very different experiences: those homeowners struggling to make payments and those who have an opportunity to improve their financial health. EarnUp is growing quickly because our automated payments platform and early notice insights empower the mortgage industry to better serve both groups, producing a win-win for borrowers, lenders, and servicers.”
With more than $10B in loans under management on its payments platform, EarnUp is uniquely able to identify in advance loans that are at risk of entering forbearance or that might qualify for a refinance. Because of costly manual processes and the overwhelming and hard-to-navigate financial systems currently in place, homeowners often wait too long to initiate modification requests on their own. With EarnUp’s Enterprise Solutions, lenders and servicers can be automatically provided with advance notice to intervene and offer support when needed.
By alleviating pressure on homeowners and avoiding missed payments, EarnUp helps stabilize financial health for homeowners and reduces risks and costs for providers. For those who might benefit from a refinance, this earlier connection can boost provider performance while helping credit-worthy homeowners save on rates and improve their financial health even further.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
To learn more about EarnUp and the…