B2B digital mortgage software developer Maxwell Financial Labs, has closed a $3m round of funding led by Anthemis Group.
Other backers to the investment included Route66 Ventures and Assurant, alongside the company’s existing investors.
Colorado-based Maxwell helps mortgage lenders to automate workflows with homebuyers and real estate agents. The platform is currently used by hundreds of mortgage lenders nationwide, and is connected to over 15,000 financial institutions, in order to automate documents, signatures, and integrations into other mortgage technologies.
This line of equity will enable the company to accelerate its growth and further the pace of its innovation.
Anthemis Group founder and managing partner Sean Park said, “As mortgage lenders invest in customer experience, Maxwell has become the backbone of some of the best mortgage experiences and is now an essential platform for mortgage lenders that want to harness both their people and their technology to compete in the changing mortgage market.”
Following this $3m injection, total capital raised by Maxwell has reached $5m, with the company’s previous fundraise securing $1.3m last year.
Anthemis has had a very active year in the FinTech space, with the company recently participating in the $1m seed financing of Insurdata. The company helps re/insurance underwriters with property-specific data, and utilises augmented reality and 3-D models of the buildings.
Other investments made by the firm this year include: API platform TrueLayer’s $3m Series A, InsurTech startup Qover’s €5.5m round, and on-demand insurance provider Trov’s $45m Series D.
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