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Blend Labs

Fintech SaaSUSA
📉 Public < $1B
Peak $4 BillionToday
~-91%
from peak
  1. 🦄
    Became a unicorn
    2020
  2. 📈
    Peak valuation
    $4 Billion ’21
  3. 💔
    Became a Unitard
    ~2022
  4. 💸
    Last valuation
    ~$360M
Current status
Public ~$0.35B

How it happened

Blend Labs is a fintech SaaS provider of digital-lending and mortgage-origination software for banks, peaking at a ~$4B valuation around its 2021 IPO. A sharp slowdown in mortgage volumes amid rising interest rates hit its core business, and the stock fell steeply. It now trades around $0.35B, roughly 91% below peak.

Source: CMC May 2026