Snapdocs, a San Francisco, CA-based digital closing platform for the mortgage industry, raised $150m in Series D funding.
The round, which brought total funding to $260m and valuation to over $1.5 billion, was led by Tiger Global with participation from Sequoia, Y Combinator, F-Prime, Maverick, Alkeon, and Wellington Management.
The company intends to use the funds to continue to develop the platform and its business reach.
Led by Aaron King, founder and CEO, Snapdocs provides a digital infrastructure that connects lenders, settlement services and borrowers together to digitize mortgage closings at scale. It enables lenders to connect with all parties and technologies involved in a mortgage transaction to complete the entire closing process online. The solution is comprehensive – a networked platform that allows participants in a mortgage closing to work together and close deals. The technology manages the entire cross-party workflow, appointment scheduling, status updates and notifications necessary to provide a seamless closing experience. The platform connects and integrates with all major real estate technologies, working natively with Loan Origination, Point of Sale, Title Production, eNote, and Remote Online Notary solutions, enabling them all to interact at scale.