Last Monday, Fintech company cloudvirga, developer of a cloud-based mortgage automation platform, announced it raised $15 Million is Series B funding.
Cloudvirga’s trademarked intelligent Mortgage Platform (iMP) automates the entire mortgage workflow process between borrowers and lenders.
Central to cloudvirga’s success is its ability to maintain strict regulatory compliance, reduce time to close and save lenders money by moving many traditional back-office tasks to the front of the loan process.
Innovation using the power of new technologies is core to cloudvirga’s vision:
Cloudvirga is disrupting an industry entrenched in labor-intensive processes, fragmented systems and heavy regulations with a single platform that empowers consumers, drives down costs and introduces true automation.
The Series B round was led by Incenter, a Blackstone Group portfolio company. Funds from this round will be used to scale cloudvirga’s technology and expand their product offerings.
Since launching in 2016, cloudvirga claims to have processed over $15 Billion in loans.
Cloudvirga previously raised $7.5 Million in its Series A round back in July of 2016.