Maxwell, a U.S.-based digital mortgage and fulfillment platform for small and mid-sized mortgage lenders, announced Thursday it has raised $ 16.3 million in Series B fundraising led by Fin VC and TTV Capital with the participation of Rotor Capital, The Mortgage Collaborative Emerging Technology Fund and investors, including Anthemis Group, Route 66 Ventures and Sovereign’s Capital.
Founded in 2015, Maxwell says it enables mortgage lenders to improve the borrower experience, increase efficiency and improve profitability by intelligently automating workflow through its digital platform and technology-based services. The company notes that it uses AI to streamline and speed up the mortgage lending process for community lenders and their borrowers.
“Maxwell helps over 250 community lenders nationwide overcome the costs and challenges of the overall mortgage transaction, enabling their sales teams to outperform the market by 20% each month and improve the experience of borrowers and real estate agents.
Speaking of business development, John Paasonen, co-founder and CEO of Maxwell, Explain :
“As markets evolve and borrower expectations change, Maxwell will continue to simplify and modernize the mortgage process for community lenders who impact the lives of homebuyers and homeowners across the United States, and s’ will ensure that the lenders on its platform are prepared to be the most competitive in their market. “
Maxwell added that it will use the Series B financing to accelerate product development, market penetration, and product and engineering recruitment to meet market demand for technology solutions that enable community lenders to realize economies of scale to be competitive in the active mortgage market.