States Title, which is simplifying real estate transactions, has received $150m in debt financing from HSCM Bermuda.
This debt facility will be used to enable States Title to continue with its product roadmap and further its market expansion efforts. Funds will also support the refinance of debt to Lennar Corporation, which helped fund the acquisition of North American Title Company and North American Title Insurance Company.
Founded in 2016, States Title leverages machine intelligence to simplify the closing of real estate transactions. Its tools are used by lenders, real estate professionals, title agents and homeowners.
States Title CEO Max Simkoff said, “HSCM Bermuda has been a great partner, having participated in our last equity round prior to this debt financing. They see immense value in how we are overhauling the system and, together, we now have greater capacity to tackle this enormous market, with significant tailwind behind what we’re doing.”
The PropTech company previously raised $123m in its Series C round in May 2020 from Greenspring Associates, Horizons Ventures, Eminence Capital, HSCM Bermuda and others.
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