TX-based Closinglock secures $12million in series A round funding. Headline led the investment, with participation from RWT Horizons, GTMfund, and LiveOak Ventures.
The money will be utilised by the company to expedite the creation of new products, extend its technological infrastructure, and improve its real estate transaction safeguarding and streamlining skills.
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Under the direction of CEO Andy White, Closinglock optimises transactions via a platform and offers fraud prevention technology to the real estate sector.
Settlement companies can use it to communicate documents, obtain e-signature collection, validate payout accounts, validate earnest money and cash-to-close payments, validate identities, and exchange wire instructions.
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Utilised by more than 400 legal firms and title companies, and backed by financial service providers including J.P. Morgan, Closinglock has safeguarded over $250 billion worth of transactions.
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.”
About Closinglock
Closinglock is bringing modernity to the information transfer process in the real estate industry by eradicating wire fraud and shielding buyers, lenders, brokers, and closing companies from financial loss. The main function of Closinglock is a safe online interface that allows title clients to quickly and easily obtain wire transfer instructions.
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