AUSTIN, Texas–(BUSINESS WIRE)–Flueid, a fast-growing mortgage technology leader providing modern digital solutions to traditional inefficiencies in the mortgage lifecycle through its Flueid platform, today announced a Series A funding round led by Aquiline Technology Growth (ATG) with additional participation from Commerce Ventures. To support demand for our products, the funding will be used to fuel expansion of the Flueid platform, support business development growth, and expand integrations with client and industry partners.
This capital will enable Flueid to build on its strong momentum, which includes exponential growth in product adoption over the past year and a more than tenfold increase in revenue since its last capital raise.
Using a completely unique approach, Flueid is the only independent digital solution to enable immediate certainty for title insurability, backed by a choice of underwriters, at the start of the loan lifecycle, empowering customers to take control and streamline their workflow. Flueid’s technology delivers instant transparency that mitigates and measurably reduces risk for all parties involved in the transaction thanks to scalability that delivers a defense against the ebb and flow of cyclical real estate markets thereby also solving a huge industry challenge: the time and difficulty associated with closing real estate transactions. What’s more, the Flueid solution provides clear informational and action items throughout loan origination, fulfillment, and closing, enabling measurably reduced cycle times while increasing pull-through that ultimately improves the consumer’s experience.
“Flueid has innovative technology that addresses many pressing challenges found in the traditional loan lifecycle,” said Jeff Greenberg, Chairman and CEO of Aquiline Capital Partners ATG. “We’re confident in Flueid’s ability to bring technology and automation to the title insurance, real estate and mortgage lending industries.”
“We’re always looking for experienced management teams that are building technology solutions in large, but under-innovated verticals of financial services – and we found a natural fit with Flueid,” added Vivek Krishnamurthy, Principal at Commerce Ventures. “By automating manual processes with technology and data, Flueid is helping transform key segments of the mortgage lifecycle to generate a cost and time efficient experience. We believe Flueid has the potential to disrupt how mortgages are fulfilled today, and we’re excited to join the team.”
“This funding validates a year of record growth and revenue,” said Peter Bowman, CEO of Flueid. “We’re delivering key real estate industry differentiators without disrupting workflow for a variety of customers, including new FinTech solution providers who are digitizing the mortgage process. It has been exciting to…