Closinglock secures $34M to fortify real estate fraud protection
Deal News | Feb 03, 2025 | Aim Group
Closinglock, a fintech company based in Texas, has raised $34 million in Series B funding led by Sageview Capital, with participation from Headline and RWT Horizons. The company specializes in fraud prevention technologies for the real estate market, providing tools to secure fund transfers and transactional data. These tools have so far prevented over 8,250 fraud attempts and saved US buyers and sellers more than $1.24 billion. The recent funds will be used to further develop and expand their technology as property fraud, amplified by AI and deepfake capabilities, increases. Closinglock hopes to enhance its innovative solutions, like the Good Funds Payments tool, and partnerships with JP Morgan and Docusign to secure and streamline real estate transactions.
Sectors
- Fintech
- Real Estate
Geography
- United States – Closinglock is based in Texas, and its services are focused on safeguarding US real estate transactions from fraud.
Industry
- Fintech – Closinglock operates within the Fintech sector as it provides advanced financial technology solutions designed to enhance security and efficiency in real estate transactions.
- Real Estate – The company specifically targets the real estate industry by offering technology that facilitates secure transactions and protects against fraud.
Financials
- $34,000,000 – The amount raised by Closinglock in its Series B financing round.
- $1,240,000,000 – The total saved by U.S. buyers and sellers from fraud attempts due to Closinglock's tools.
- $500,000,000,000 – The approximate value of home sales protected by Closinglock's services.
- $600,000,000 – The value of payments securely transferred through Closinglock's Good Funds Payments tool.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Closinglock | Target Company | Company | A fintech company specializing in fraud prevention for real estate transactions. |
| Sageview Capital | Lead Investor | Company | A private equity firm that led the $34M Series B investment in Closinglock. |
| Headline | Investor | Company | A venture capital firm that participated in the Series B funding round for Closinglock. |
| RWT Horizons | Investor | Company | A participant in the Series B funding for Closinglock. |
| Andy White | CEO and Co-founder | Person | CEO and co-founder of Closinglock, leading the company's mission to enhance transaction security in real estate. |
| J.P. Morgan | Partner | Company | Closinglock's partner for expanding payment offerings. |
| Docusign | Partner | Company | Partner for integrating document signing capabilities in Closinglock's platform. |