Cota Capital Leads Round; Company to Advance its Trusted Home Lending Platform
SAN FRANCISCO–(BUSINESS WIRE)–February 15, 2018–
Roostify, a number one digital lending platform supplier, at this time introduced the completion of a $25 million Series B spherical of financing. The spherical included new investments from Cota Capital, Level72 Ventures, and Santander Innoventures, the enterprise capital arm of Banco Santander, as effectively as extra funding from earlier traders JPMorgan Chase, Colchis Capital, and a subsidiary of USAA. The new funds will energy the firm’s formidable progress targets, together with a deeper presence within the enterprise house, wealthy product enhancements, and growth into new markets.
“We have been immensely impressed with what Roostify has completed within the final 4 years,” mentioned Bobby Yazdani, Cota Capital’s Managing Partner. “Roostify has developed not solely their very own providing and product focus, however the market as a complete, serving to the lending trade remodel itself for the digital age. We’re happy to be part of that transformation, and stay up for seeing Roostify and the trade proceed to maneuver ahead.”
Launched in 2014 with the intention to hurry up the mortgage course of and eradicate paper-bound inefficiencies, Roostify has grown into an enterprise-class digital lending platform utilized by lenders throughout the US to speed up, simplify, and scale back prices across the origination course of. Roostify’s cloud-based, API-enabled, partner-friendly answer permits lenders to supply their purchasers a seamless, branded expertise from looking to closing their house mortgage. With the extra sources offered by the Series B financing, firm management plans to speed up supply of its roadmap and drive market growth.
“Four years in the past, Roostify was a pioneer in shifting the patron house lending expertise on-line. We sought to ship an providing that we would expertise ourselves for our own residence purchases,” mentioned Rajesh Bhat, co-founder and CEO of Roostify. “Since then, a digital technique has developed from an ambition to a enterprise crucial for our prospects. Lenders now notice the worth of offering customers with a clear, cell, and seamless expertise to acquire a mortgage with out unnecessary stress-inducing delays and pink tape. We have developed an answer that permits lenders of all sizes to provide their groups a software to digitally have interaction with purchasers and to convey the mortgage origination expertise to the client.”
Roostify has made a number of latest strikes to develop the platform past the core mortgage software and processing expertise. The firm not too long ago introduced an integration with LendingTree, which permits customers to store for a mortgage after which get that mortgage with their most well-liked lender in just some clicks, and beforehand launched the brand new Decision Builder software to enhance training for customers and lead high quality for lenders.
Founded by customers searching for a greater method to discover a house, Roostify gives the trade’s main digital platform for house lending. From enterprise banks to impartial brokerages, dozens of lenders throughout the United States belief Roostify to hurry up closings, scale back pointless work and provides their prospects a clean, anxiety-free mortgage expertise. Since 2014, Roostify has transacted over billions of dollars in mortgages and helped shut lots of of hundreds of house loans nationwide.
Roostify is backed by a number of prime banks and funding teams, and headquartered in San Francisco. For extra info, please go to roostify.com.
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Richard Berman, 415-359-4906
This article sources info from VentureBeat