Maxex Raises $38M in New Funding

maxexMaxex, LLC, an Atlanta, GA-based residential mortgage loan exchange provider, closed a $38m funding round.

The round, which brought aggregate capital raised to date to more than $73m, was led by Moore Asset Backed Fund, LP, an investment fund managed by Erik Siegel of Moore Capital Management.

The company intends to use the funds to enhance its exchange operations and counterparty structure as well as continue to build out its cloud-based platform.

Led by Tom Pearce, CEO and Chairman, Maxex provides a cloud based residential mortgage loan trading and exchange platform for participants in the secondary mortgage market to act in more open, efficient and less risky secondary market.
The company – now operational – has traded more than $2.3 billion of mortgage loans between select participants, including more than 80 approved sellers and buyers that range from bank and nonbank originators to a number of the most active Wall Street dealers. Maxex has contributed loans into 16 separate private MBS securitizations and plans for a broader public launch later in the year.

The company currently has over 50 employees.

FinSMEs

24/09/2018

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