Approved, a San Diego, CA-based digital mortgage platform, raised $1m in pre-seed funding.
The round was led by Social Capital and Precursor Ventures with participation from with participation from Bluesky Equities, Graph Ventures, and angels.
The company will use the funds to support the launch of the platform.
Led by CEO Andy Taylor and CTO Navtej Sadhal, Approved provides a digital mortgage platform that allows borrowers to automatically import bank statements, paystubs, and tax documents securely online rather than submitting pages of paper documents.
The company’s technology includes:
– DocCast™, which automatically collects original bank statements, W2s, 1099s, 1040s and paystubs.
– DocVision™ Camera Scanning, which allows borrowers to securely scan documents using their mobile devices.
– White-labeled Dashboards, a platform for borrower and lender collaboration.
– Digital Document Library, which support for all loan programs.