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Santander Innoventures to make new investment in digital mortgage platform Roostify

Santander Innoventures, the venture capital arm of Santander Group, announced that it led a new funding round in Roostify, a San Francisco-based digital mortgage lending platform.

Santander, which originally made an investment in Roostify in February 2018, did not disclose the amount of the new funding round. 

"We're excited to continue supporting Roostify in their next stage of growth as they forge ahead with their multinational and product expansion strategy," Manuel Silva Martinez, partner and head of investments at Santander Innoventures, said in a company release. "The company has seen impressive growth since we originally invested in them last year and the European mortgage lending market is ripe for the type of machine learning tools that Roostify offers.". 

Roostify said the new funding round will help Roostify build out its cloud-based platform, including fulfilment capabilities, machine learning tools and additional consumer loan products. The funding will also help pay for Roostify's expansion into the U.K. and continental Europe. 

Existing investors, including JPMorgan Chase and Colchis Capital, are participating in the round.