Skip to main content

Snapdocs Raises $1.5M In Series D Funding

May 26, 2021
Snapdocs logo.

Snapdocs raised $1.5 million in Series D funding. The investment will fund the digital infrastructure that connects lenders, settlement service, and borrowers for an efficient digital closing, according to a press release. Snapdocs’ total funding now sits at $260 million, upping the company's valuation to more than $1.5 billion.

Aaron King, founder and CEO of Snapdocs, said, “Closings require tight coordination between many parties in a fragmented ecosystem, all of whom have their own systems and processes. Snapdocs is in the background doing the hard work of connecting the ecosystem to orchestrate the perfect close.”

Since Snapdoc raised $60 million in Series C funding 7 months ago, they have continued to display significant growth. Snapdocs customers are currently on pace to close millions of mortgage transactions in 2021. Snapdocs also now touches nearly 20% of all US real estate transactions, representing over $60B in mortgage value.

Since its inception in 2013, Snapdocs has been building a digital mortgage closing solution. Because of the COVID pandemic, industry fragmentations and inefficiencies were made obvious. Now the digital closing process has now become a standard practice for lenders to better connect with borrowers and improve efficiency.

“Snapdocs is the connective tissue between dozens of different participants, tools and processes involved in mortgage closings, and that connection is what allows lenders to realize the benefits of digital closings at scale,” added King.

Tiger Global led the Series D funding round along with participation from Sequoia, Y Combinator, F-Prime, Maverick, Alkeon, and Wellington Management.

Click here to read more about Snapdocs' latest round of funding. 

Published
May 26, 2021
More from
Tech
Flagstar Bank's Christy Soukhamneut To Appear On The Mortgage Leadership Outlook

The next installment in the Mortgage Leadership Outlook's Tech Stack Heroes collaboration with BeSmartee is set to feature Christy Soukhamneut, chief of staff/director of mortgage strategic initiatives for Flagstar Bank.

Tech
Aug 02, 2021
First Tech Federal Credit Union Chooses ICE Mortgage Technology’s EPPS

First Tech Federal Credit Union has chosen ICE Mortgage Technology’s EPPS to improve automation, compliance, and scalability to meet the demands of over 720,000 members. 

Tech
Jul 29, 2021
ICE Makes Enhancements To Its Mortgage Prepayment Model

The Intercontinental Exchange, Inc. made enhancements to its mortgage prepayment model with daily residential mortgage rates from ICE Mortgage technology.

Tech
Jul 27, 2021
Liquid Mortgage Technology Supports Efficient Debt Market

Liquid Mortgage received a U.S. patent for its distributed ledger technology to support its future vision of efficient and transparent debt markets.

Tech
Jul 22, 2021
Rocket Expands Home Search Tool To All 50 States

Rocket Homes announced its growing home search tool now includes listings from all 50 states.

Tech
Jul 21, 2021
Better's One-Click Checkout Now Offers Title Insurance For Refi's

Better announced it has been licensed as a title insurance provider for refinance transactions through Better Settlement Services (BSS) in Virginia. 

Tech
Jul 20, 2021