DepositLink, a Boston, MA-based provider of electronic payments for residential real estate transactions, closed a $3.5m seed financing round.
The investors were not disclosed.
The company intends to use the funds to bolster its sales team, enhance technology, and boost infrastructure to accelerate marketplace adoption and its development roadmap.
Led by Jay Rooney, CEO & Founder, DepositLink is a mobile responsive payments platform for real estate and title companies to collect earnest money deposits, send and request commission payments, issue refunds, and request rental deposits electronically.
DepositLink launched into production in October 2019 and now has customers in all 50 states. Clients include Berkshire Hathaway Home Services, Better Homes and Garden Real Estate, Century 21 Real Estate, Compass, Douglas Elliman, ERA, Home Services of America, HomeSmart, Keller Williams, RE/MAX, and Sotheby’s International Realty.