Closinglock, an Austin, TX-based fintech and fraud prevention technology provider, raised $12M in Series A funding.
The round was led by Headline with participation from LiveOak Ventures, RWT Horizons and GTMfund.
The company intends to use the funds to accelerate product development, expand its technological infrastructure and further enhance its capabilities in safeguarding and streamlining real estate transactions.
Led by CEO Andy White, Closinglock provides fraud prevention technology to the real estate industry, optimizing transactions through a platform. With it, settlement companies can exchange wire instructions, receive earnest money and cash-to-close payments, validate payoff accounts, verify identities, share documents and collect eSignatures. Used by over 400 title companies and law firms, and supported by financial service providers such as J.P. Morgan, Closinglock has protected transactions totaling more than $250 Billion.
Commenting on the news, Andy White said: “This Series A funding is a testament to the dedication and expertise of our team, as well as the relevance of our solutions in combating fraud in real estate. We are thrilled to add Headline as a partner as we continue to innovate and strengthen our offerings to better serve our clients.”
FinSMEs
08/02/2024