Neat Capital announced that it had raised 22.5 million dollars in Series B funding round.
Left Lane Capital joined the round with American Family Ventures, the existing investors, to boost constant growth and scale the business operations. The total capital of the Boulder-based company has lifted to 37.2 million dollars in this round.
Let’s have a quick overview of Neat Capital.
Neat Capital is a fintech and digital mortgage lending company that provides clients with residential home financing with remarkable accuracy, surety, and concision. This financial services technology business is reinventing the industry as today's sole technology on the market that brings customers in a single session through the home mortgage process.
The vision of Neat is to make purchasing a home as effortless as using cash. The business directly reaches clients and partners with wealth management and real estate communities, Fortune 500s, and banks to support their customers' home loan needs.
Is the new funding helpful?
According to Luke B. Johnson, the CEO, and founder of Neat Capital, this new funding will help meet the customers’ demand that has surpassed expectations and facilitate its ongoing growth and evolution across the United States.
Neat Capital has initiated a smarter home loan experience through this upliftment by automating the property pricing, loan production, and underwriting process that gives up the previous multistep traditional processes, including loads of paperwork. In this manner, Neat claims that its technology can close on a mortgage three times faster than the market average. It entirely agrees that adopting advanced technology or automation tools is essential to scale up the business.
This idea of Neat is quite innovative. It combines modern tech with the human support for consumers looking to work with professional loan officers while making the most significant financial decisions of their lives. It has been adopted to achieve a better mortgage journey for the consumers.
To date, Neat has raised 37.2 million dollars in equity capital to finance its creative approach to home financing. Additionally, Neat has surpassed the organic growth patterns with a pipeline bulging with more than ten times the annual growth.
The company stated that it would use this new investment to incorporate new distribution sources and scale up its activities and strive to make the whole experience of home loans clear, easy and neat for customers. That includes recruiting across its offices in Connecticut and California and its Boulder HQ for a handful of positions.