- General
- October 12, 2020
- 3 minutes read
Snapdocs Lands $60 Million Round
Photo credit: Snapdocs Snapdocs, a mortgage lending upstart, has announced that it’s raised $60 million in Series C funding that follows…
Photo credit: Snapdocs |
Snapdocs’ new funding round comes at a time when home sales in the US has hit record levels. It’s such that Snapdocs’ digital mortgage platform powered roughly 170,000 mortgage closings representing an aggregate $50 million in transactions in August of this year alone. The company says more than 1.5 million mortgage closings will be handled on its platform this year, more than double its volume in 2019. Right now, over 130,000 real estate professionals have adopted Snapdocs, along with dozens of enterprise customers including national lenders like Bell Bank and LeaderOne Financial Corporation.
Snapdocs offers an online software suite used by real estate professionals to facilitate mortgage closings. The company says it’ll use the new funding raise to build on recent momentum and scale its operations.
Under the terms of Snapdocs’ Series C round, Anu Hariharan, a partner with the YC Continuity Fund which led the round, is taking a board seat at the real estate tech company.