This tiny startup is leading community banks into battle with Wall Street's giants

A finance startup co-founded by one of Google's first engineers is helping small community banks and credit unions take on the biggest names on Wall Street.

Roostify is a Burlingame, California-based startup that helps smaller community banks and credit unions access a more diverse set of mortgage borrowers faster than they otherwise would be able to.

The start-up has just 10 employees at present, including co-founder and former Googler Harry Cheung.

The company is in the midst of raising a new round of funding that will likely raise a little more than $7.5 million.

Roostify plans to triple headcount in 2016, according to CEO Rajesh Bhat, who said the funding round will soon close and that Roostify will be adding some familiar faces to its investor roster.

"A couple of them are our customers," he told Business Insider.