Friday Harbor, an AI-powered platform that helps loan officers assemble complete and compliant loan files in real time, has closed a $6 million seed round.
The round was led by Abstract Ventures and Mischief, an early-stage venture VC fund co-founded by Plaid CEO Zach Perret. Wischoff Ventures and the AI2 Incubator participated.
Friday Harbor’s platform helps lenders of all sizes tap AI to read and interpret borrower documents, generate a borrower-specific needs list, underwrite files and flag potential conditions in real time. Each flagged issue includes a suggested resolution, enabling loan officers to take action with a single click.
This, claims the startup, compresses a process that typically takes weeks of back-and-forth into just minutes, reducing downstream friction and accelerating time to close.
The funding will b used to build out Friday Harbor's engineering team and support integrations with mortgage LOS and point-of-sale platforms — paving the way for more lenders to automate file setup and accelerate underwriting.
Theo Ellis, CEO, Friday Harbor, says: “Thousands of lenders deserve access to the same tools as the mega-lenders — and in many cases, they’re now doing things the biggest players can’t. That’s what happens when you give lenders technology built by people who truly understand both AI and mortgage.”