PropTech company JetClosing bags £9m in its Series B round

PropTech startup JetClosing has bagged $9m in its Series B round as it plans to move into new markets. 

The investment was led by funds and accounts advised by T. Rowe Price Associates, while additional contributions came from Pioneer Square Labs (PSL) and Trilogy Equity.

This investment brings JetClosings’ total capital raised to $35m. Its Series A round was a $20m round back in 2018 and was supplied by  T. Rowe Price Associates, PSL Ventures, Imagen Capital Partners and existing investors Trilogy Equity Partners and Maveron.

Having closed its Series B, JetClosing plans to expand its cloud-based digital title services by further streamlining the process, as well as move into new markets.

The company is a digital title and escrow company for real estate transactions. The technology improves the transparency, and user experience for buyers, sellers and real estate agents.

JetClosing goes a long way to safeguard personal information with encrypted workflows for secure document transfers, wire transactions, remote online notarisations and e-signatures. Information is also protected by multi-factor authentication.

The PropTech’s services are available in Arizona, Colorado, Nevada, Florida, Pennsylvania, Texas and Washington.

JetClosing CEO Dan Greenshields said, “In light of the current economy, this funding demonstrates unequivocally that there is a real market need for a digital workflow to facilitate home closings for resale and refinancing transactions.

“Pandemic or not, consumers expect a technology-first closing process that’s catered to their fast-paced, on-demand, and mobile lifestyles. This investment will allow JetClosing to expand into new markets while continuing to add features and bolster our platform’s overall user experience.”

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