Reggora, a U.S. fintech that specializes in residential appraisal software, announced on Thursday it secured $10 million through its Series A funding round, which was led by Spark Capital. Founded in 2016, Reggora describes itself as a modern appraisal technology company that provides mortgage lenders and appraisal vendors with a two-sided software that streamlines the appraisal process from A to Z.
“Through advanced and customizable workflows, Reggora’s core features include payment processing, algorithmic appraisal ordering, automatic rule-based reviews, appraisal delivery, status updates, and more. Lenders using Reggora today experience significantly reduced appraisal turn times, lower internal overhead, and an improved buyer experience.”
While sharing more details about the investment round, Brian Zitin, Reggora’s CEO and Co-Founder, commented:
“Since our last round of funding, we have been able to establish ourselves as the premier automated appraisal technology and now work with regional and national lenders across the country. This latest round of funding is a testament to both our rapid growth and the strength of our software. I’m excited to continue our journey and spearhead a new era of appraisal modernization.”
Alex Finkelstein, a partner from Spark Capital, concluded:
“Reggora has exceeded all expectations from a customer and product standpoint since its seed round. We continue to be impressed with the company’s ability to scale and innovate, and are excited to support their vision.”
Reggora then added that this most recent round of funding brings its total amount raised to nearly $15 million. In the past year, the company has reportedly expanded signifiantly its client base and workforce and has invested in unique partnerships and integrations to provide its clients with a competitive advantage in the appraisal process.