Flueid Secures $20 million to Accelerate Product Diversification
October 18, 2022
Flueid recently secured $20 million in funding, including a $15 million Series B raise and $5 million as a relationship extension with Silicon Valley Bank (SVB). The Series B round was led by existing series A lead investor Aquiline Technology Growth (ATG) and was joined by Commerce Ventures, which also participated in Series A.
Flueid reported that it supported more than one million transactions through its technology suite as of summer 2022 while adding purchase and home equity transactions to its platform’s existing refinance capabilities. The funding will be used to accelerate this momentum, maturing and scaling products to support all housing market demands, particularly home equity and loss mitigation strategies in today’s market conditions, according to the company.
“Flueid is focused on bringing data forward that expedites decision-making and unlocks processes, no matter where a client sits within the ecosystem,” said Peter Bowman, co-founder and CEO of Flueid. “Over the last 18 months, we’ve evolved our technology to power multiple transaction types and arm our partners with a modern, tech-forward solution that helps them capitalize on any market shift. This funding reinforces a shared confidence in our go-to-market strategy and our vision to power the real estate transaction from end-to-end with Flueid’s data, decisions and insights at the core.”
The company’s main product, Flueid Decision, provides data and insights needed to clear a real estate transaction for closing at the start of a user’s process. Flueid reported it has been adopted by top lenders, real estate brokerages, real estate marketplaces, lending and title platform providers, title agents and title underwriters and servicing platforms to power workflow decisions.
“A home is one of life’s most important milestones and assets,” said Peter Richter, president and co-founder of Flueid. “We are building toward a future where the consumer can have a seamless real estate experience, whether they are a first-time buyer or a long-standing owner. Our expanded partnership with ATG will allow us to support clients at every step of the transaction and deliver the on-demand experience consumers have come to know and expect in their digital journeys.”
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