Bee Raises $2.5 Million In Investments Following Successful Trial Run – NMP Skip to main content

Bee Raises $2.5 Million In Investments Following Successful Trial Run

Sarah Wolak
Jun 09, 2022
Bee Mortgage App

The first mortgage app of its kind announced a successful beta trial with contactless loan applications in under 10 minutes.

  • Bee Mortgage App passed a successful beta run, garnering $2.5 million in investments.
  • The app uses AI, blockchain, machine learning and data automation that is able to process approximately 70% - 80% of origination data without any loan officer.

Bee, the first Web3 mortgage app for homebuyers, announced $2.5 million in investor interest after a successful beta test on June 9. 

The beta test demonstrated the app's ability to process legitimate loan applications within nine minutes without involvement from a loan officer.

The app, which uses AI technology and machine learning, secured investor interest through Stonks, a platform backed by Andreessen Horowitz, that allows start-ups to showcase their products for investors during test trial periods.

"Getting this type of backing is a testament to Web3's ability to support a new mobile mortgage experience by simplifying and expediting the loan origination process," Curtis Wood, co-founder and CEO of Bee, said. "We look forward to offering mortgages where today's buyers like to do business, on their phones."

The company plans to use funds to finish product development with e-closing capabilities and hire mortgage staff. The company plans to launch its mobile mortgage app in the fourth quarter to Florida buyers.

Jun 09, 2022
More from
Notarize Cuts 25% Of Staff, Citing Need To ‘Evolve’

CEO of online notary service says economy, world events create ‘uncertainty’

Jun 22, 2022
New Fights Old

Active push for high-tech mortgages gets pushback from consumers

Jun 21, 2022
Blockchain, Artificial Intelligence & Machine Learning: Hype or Help?

All Three Could Contribute To Faster Digital Transformation

Jun 21, 2022
iBuying Is Not Circling The Drain

Surge in home prices is making the segment more profitable — even for departing Zillow

Jun 16, 2022
Guaranteed Rate Adds Digital Loan Products, Hires 3 Execs

Has rolled out HELOCs in 41 states and Washington, D.C., and is piloting personal loans in Illinois.

Jun 07, 2022
Timios Announces Partnership With, Investment In OrangeGrid

Timios is now the preferred provider of title, escrow, valuation, and asset management services within OrangeGrid's GridReady default management system.

Industry News
Jun 03, 2022