13 Best Technology Penny Stocks to Buy Right Now

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3. Blend Labs Inc. (NYSE:BLND)

Share Price as of March 28: $3.44

Number of Hedge Fund Holders: 33

Blend Labs Inc. (NYSE:BLND) offers cloud-based software platform solutions for financial services firms in the US. It operates through the Blend Platform segment and the Title365 segment. The Blend Builder Platform offers products that power digital-first consumer journeys for services like mortgages and loans. The company also provides professional and consulting services.

In Q4 2024, revenue for the company’s Consumer Banking segment surged by 48% year-over-year and reached the $9.5 million mark. The full-year 2024 revenue for this segment experienced a 42% growth. This was fueled by the company’s ability to offer solutions to institutions that extend beyond mortgage lending. This includes consumer deposit account opening and customized lending solutions.

Blend Labs Inc. (NYSE:BLND) is seeing strong adoption of its home equity products within the Consumer Banking segment. These are financial products that allow homeowners to borrow money using their equity. The company’s rapid home equity products solution incorporates next-gen speed into the home equity lending workflow and is quite popular among customers. Around 100 customers use this flagship solution.

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