Janover AI Drives Lender Growth on its Fintech Marketplace

Rhea-AI Summary

Janover Inc. announces unprecedented growth in lender engagement metrics.

Positive

• Janover more than doubled the number of unique credit box updates, achieving a 133% increase in first-party data updates compared to the previous quarter.
• The Company saw a 24% sequential increase in originator sign-ups on the Janover platform, with approximately 9% of all banks in the United States now registered on the platform.
• Janover aims to own the world's largest first-party data set of U.S.-based commercial lenders and originators, becoming the best place for commercial borrowers to go for financing.
• The integration of AI with the Lender Success team is facilitating accelerated growth and improving customer service and user experience.

Negative

• None.

Boca Raton, FL, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq:  JNVR) (“Janover” or the “Company”), an AI-enabled B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch, today announced unprecedented growth in its lender engagement metrics.

In July 2023, Janover launched its generative AI application designed to directly engage commercial property lenders nationwide and to provide them with support with onboarding, demo setup, and collecting unique credit terms and data from the commercial loan originators that work at those institutions. The AI application provides instantaneous and world-class customer service, 24/7/365.  It does so via email, text, chat, and voice interaction, supporting complicated B2B transactions, while exhibiting empathy and creativity in sales and service. This innovative tool is another example of Janover’s commitment to utilizing cutting-edge technology, while maintaining its personalized, human-centric approach to its business.

Following the AI implementation, over the last quarter, the Company more than doubled the number of unique credit box updates, which is a key metric the Company uses to gauge first-party data provided by lenders on the loans they are originating and, in the sales pipeline, as well as terms and structure. The AI significantly aided in achieving a 133% increase in first-party data updates compared to the Company’s second quarter.

“We believe this growth to be representative of how excited banks, credit unions, and other lenders are to build out their profile on our platform, validating the appeal of our marketplace for commercial real estate lenders and as a source for borrowers to get the best pricing and terms for their commercial loan requests,” said Blake Janover, CEO of Janover Inc.

In terms of marketplace activity during the quarter ended September 30, 2023, the Company saw a 24% sequential increase in originator sign-ups (on behalf of commercial lenders) on the Janover platform, compared to the previous quarter.  Importantly, approximately 9% of all banks in the United States have now registered on the Company’s platform.

Blake Janover commented, “We aim to own the world’s largest first-party data set of U.S.-based commercial lenders and originators, along with their preferences. As we aggregate their wants, needs, and capabilities, we believe we can become the best place for commercial borrowers to go for financing, and therefore, the best place for commercial lenders to go to originate loans. We believe our marketplace growth will continue to accelerate as we generate network effects with the assistance of our ever-evolving generative AI technology; with each borrower joining the platform, making it more valuable for each lender, thereby making it more valuable for each borrower, and so-on. The fact that after such a short period of time, nearly 10% of all banks in the United States are represented on our platform is extremely exciting and validating, especially considering that not all banks are commercial lenders, meaning we have an even more significant piece of the overall market.”

“The integration of AI with our Lender Success team is already facilitating accelerated growth at an impressive pace,” said Bryan Rippe, the Company’s new Director of Lender Success. “The quality of customer service and user experience since launching this AI application has been exceptional, enabling our Lender Success team to magnify their impact. We’re extremely excited about the potential to scale this program, with an ambitious aim of having the most comprehensive set of commercial lenders in the United States represented on our platform.”

About Janover Inc.

Janover is a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. The Company seeks to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few. Through the Company’s online platform, it provides technology that connects commercial mortgage borrowers looking for capital to refinance, build, or purchase commercial property, including, but not limited to, apartment buildings, to commercial property lenders. Borrowers include, but are not limited to, owners, operators, and developers of commercial real estate including multifamily properties and most recently, a growing segment of small business owners, which Janover believes represents a significant growth opportunity. Lenders include small banks, credit unions, REITs, Fannie Mae® and Freddie Mac® multifamily lenders, FHA® multifamily lenders, debt funds, CMBS lenders, SBA lenders, and more. Additional information about the Company is available at: https://janover.co/.

To view the latest investor presentation, please visit https://ir.janover.co/.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.  Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the effect of and uncertainties related the ongoing volatility in interest rates; (ii) our ability to achieve and maintain profitability in the future; (iii) the impact on our business of the regulatory environment and complexities with compliance related to such environment; (iv) our ability to respond to general economic conditions; (v) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (vi) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth  and other risks and uncertainties more fully in the section captioned "Risk Factors" in the Company’s Registration Statement on Form S-1 related to the public offering (SEC File No. File No. 333-267907) and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: jnvr@crescendo-ir.com

FAQ

What is the growth in lender engagement metrics announced by Janover Inc.?

Janover more than doubled the number of unique credit box updates and achieved a 133% increase in first-party data updates compared to the previous quarter.

How much was the sequential increase in originator sign-ups on the Janover platform?

The Company saw a 24% sequential increase in originator sign-ups.

How many banks in the United States are registered on Janover's platform?

Approximately 9% of all banks in the United States are now registered on the platform.

What is Janover's aim regarding commercial lenders and originators?

Janover aims to own the world's largest first-party data set of U.S.-based commercial lenders and originators.

What is the impact of integrating AI with the Lender Success team?

The integration of AI with the Lender Success team is facilitating accelerated growth and improving customer service and user experience.