Flueid, a developer of mortgage digitalisation technology, has closed its Series A round, as it looks to fuel its expansion to meet rising demand from customers.
Aquiline Technology Growth, a venture firm focused on early and growth stage companies, served as the lead investor. Also supporting the round was Commerce Ventures.
This capital injection will be used to meet demand for its services and further its expansion. This includes increasing its integrations with client and industry partners, and furthering the business development.
Flueid has had a strong year of growth, with its revenue increasing tenfold since its last capital raise.
The FinTech offers a digital solution to streamline the process for title insurability. The platform claims to offer instant transparency that mitigates and measurably reduces risk for all parties involved in the transaction.
Its platform boasts a fully automated underwriter-approved decision that removes the title order workflow and lowers costs associated with the traditional title production process. Furthermore, Flueid helps lenders and real estate professionals increase their closing ratios by better understanding title issues.
Flueid CEO Peter Bowman said, “This funding validates a year of record growth and revenue. 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 witness how Flueid’s technology is driving efficiency and measurably reducing risk for all customers, while effectively streamlining the management of their pipeline.”
The FinTech previously received a strategic investment from Aquiline Technology Growth last year.
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