Friday Harbor, an AI-driven platform designed to assist loan officers in assembling complete and compliant loan files in real time, has successfully closed a $6 million seed funding round.
The round was spearheaded by Abstract Ventures and Mischief, an early-stage venture capital fund co-founded by Plaid CEO Zach Perret, with additional participation from Wischoff Ventures and the AI2 Incubator.
Friday Harbor’s platform enables lenders of all sizes to leverage AI for reading and interpreting borrower documents, generating borrower-specific needs lists, underwriting files, and flagging potential conditions in real time. Each flagged issue comes with a suggested resolution, allowing loan officers to act with a single click.
According to the startup, this process transforms what usually takes weeks of back-and-forth communication into just minutes, significantly reducing downstream friction and accelerating the time to close.
The funding will be utilized to expand Friday Harbor’s engineering team and support integrations with mortgage loan origination systems (LOS) and point-of-sale platforms, facilitating more lenders in automating file setup and speeding up underwriting processes.
Theo Ellis, CEO of Friday Harbor, stated, “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 provide lenders with technology crafted by experts in both AI and mortgages.”