Maxwell Financial Labs, Inc., a Denver, CO-based mortgage automation platform, secured $1.95m in funding.
Backers included MATH Venture Partners, Techstars Ventures, Zelkova Ventures and Sovereign’s Capital.
The company intends to use the funds to recruit engineers in Denver and launch its platform to more lenders.
Co-founded by financial services and tech veterans John Paasonen, Lance Poole and Rutul Dave, Maxwell provides mortgage lenders with a platform to collaborate with homebuyers in a digital workspace, on any device, with connectivity to over 15,000 financial institutions to automate paperwork and signatures.
Maxwell’s proprietary algorithms, built on its network of data aggregated across loans, aims to enable lenders to move efficiently by delivering insights and workflow adjustments.