Business, Free News Articles, Funding and Investment

Expetitle Closes $2.3 Million Seed Plus Round

MIAMI, Fla. -- Expetitle, a digital title company and a leader in remote real estate closings, announced today it has closed their $2.3 million Series Seed Plus financing round. The investment will help the company aggressively expand its sales and marketing efforts.

The oversubscribed round included participation from Beagle Ventures, LAB Ventures, TBD Angels, and several prominent family offices including the owners of one of the largest home purchasers in the US. Other contributors include Patrick Dwyer, Head of Silicon Valley Bank Miami, and Shai Goldman, Director at Brex.

Pablo Vicuña and Pedro Cabezon of Beagle Ventures led the round, stating, "We are excited to partner with Expetitle for its strong management team and the incredible market opportunity. We have been impressed with both the product and the organization so far, and know we can bring the expertise to help take Expetitle to the next level." Luke Burns led the investment from TBD Angels adding, "We're excited Expetitle is going to be joining the TBD portfolio. The mixture of their value-proposition, team, and unique go-to-market strategy lines them up for a really big opportunity in a space ready for disruption."

"Expetitle is disrupting title insurance from the ground up," said Sean Daly, the company's CEO and co-founder. "Consumers today can find a home online, tour it virtually, and arrange financing from their laptop, but when it comes to the closing process, most transactions still happen in a lawyer's office with a thick stack of paper. Expetitle has changed that with a fully remote process, giving buyers, sellers, and their agents everything they need with just a click of a button. With this new capital, we will be rolling out our solution to new states and with new partners across the country."

About Expetitle:

Founded in January 2019, Expetitle was born out of the LAB Ventures startup studio. Expetitle is a multi-state title company, operating in Florida, Georgia, and Texas, that delivers fully digital and hybrid closings through one secure collaborative platform that adds transparency to the entire closing process. Expetitle's mission is to provide a better, transparent closing experience for buyers, sellers, and their agents and brokers. Today's consumer is used to doing everything on their phone in real-time, why should buying a home be any different? To learn more about Expetitle, visit https://www.expetitle.com/.

Related link: https://www.expetitle.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Alliances and Partnerships, Business, Free News Articles, Real Estate

1st Class Real Estate and Expetitle Announce a Joint Venture to Provide Tech-enabled Closings Across The U.S.

MIAMI, Fla. -- Expetitle and 1st Class Real Estate are joining forces to create a national title partnership; offering a streamlined, remote home closing transaction to 1st Class' customers. 1st Class Real Estate is a nationally recognized top brokerage. They have grown 470% over the past three years, placing them on the Inc 5000 list of the fastest growing private companies in America.

"With all the new tech-enabled competitors coming into the market, like iBuyers, digital brokers, and alternative marketplaces, brokerages need to respond with digital innovation of their own. Consumers today expect to be able to do everything on their phone," said Sean Daly, Expetitle's CEO. "Expetitle's partnership model gives brokers the tools they need to stay relevant, while also opening up a new income stream from title insurance commissions."

1st Class Real Estate will first launch fully remote and hybrid closings through a secure platform and mobile app in Florida and Georgia, but eventually plans to roll the service out to all 50 offices nationwide.

"This joint-venture with Expetitle allows us to leverage technology to process our clients' closings more efficiently and with higher service levels. It eliminates the unknowns in a transaction by providing all parties with real-time information on any device in just a few clicks, giving our agents and their clients the confidence that their closings will happen on schedule," said Buddy Buchner, VP Franchise Development of 1st Class Real Estate.

About Expetitle

Expetitle is a multi-state title company that delivers fully digital and hybrid closings through one secure collaborative platform that adds transparency to the entire closing process. Expetitle's mission is to provide a better, transparent closing experience for buyers, sellers, and their agents and brokers. Today's consumer is used to doing everything on their phone in real-time, why should buying a home be any different? To learn more about Expetitle, visit https://www.expetitle.com/.

About 1st Class Real Estate

1st Class Real Estate, founded in 2013 by Rhyan Finch (Chief Executive Officer) started with only a handful of agents and has rapidly grown to multiple locations in states nationwide. 1st Class's proven model has the software, systems, procedures, and support staff in place for every process you can think of including office operation procedures, lead generation, marketing & branding, closing coordination, inside sales agents, agent training, and more! To learn more about 1st Class Real Estate, visit https://www.1stclassrealestate.com/.

Related link: https://www.expetitle.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Alliances and Partnerships, Business, Free News Articles, Software

DocMagic and Simplifile Team to Advance eClosing Adoption, eNotarizations, and eRecordings

TORRANCE, Calif. -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced it has partnered with leading real estate document collaboration and recording technology provider Simplifile to deliver new process efficiencies that further digitize the closing process, including post-closing automation. Simplifile is part of ICE Mortgage Services, which applies technology and high-capacity infrastructure to make the mortgage process electronic and more efficient.

DocMagic's Total eClose(TM) platform is a single-source platform that eliminates paper and offers major advantages over piecemealed providers that only address components of the overall eClosing process. The integration between Total eClose and Simplifile's Collaboration and Post Closing services includes access to Simplifile's eEligibility data for eNotarization acceptance.

Further, loan closings done through DocMagic's Total eClose platform can now be automatically routed to the settlement agent thorough Simplifile for electronic closing coordination, thus streamlining access to DocMagic's Total eClose room for the eClosing. The digital lift continues beyond the closing table with integrated eRecording with participating counties. Those recorded documents and the title policy are then returned electronically along with associated recording metadata to the lender.

"This integration further streamlines the post-closing process by extending the eClosing process to include county recordings," stated Dominic Iannitti, president and CEO of DocMagic. "Our partnership with Simplifile provides their vast network of more than 39,000 settlement agents with easy access to DocMagic's Total eClose services."

Using Simplifile, agents can seamlessly connect to all of DocMagic's eClose-enabled lenders in one place to exchange documents, data and closing logistics, thus enabling them to more easily support lenders' eClosing initiatives. In addition, Simplifile provides eClosing support and training to all agents to help drive adoption and success of eClosing efforts.

"Process consistency is key to driving eClosing adoption with lender closing teams and settlement agents, regardless of what percentage of loans qualify to be closed digitally or where individual loans fall on the digital spectrum," said Paul Clifford, president of Simplifile. "The combination of DocMagic's proven eClosing technology and Simplifile's settlement agent network creates a powerful foundation that enables lenders to scale their digital mortgage efforts as jurisdictional and investor requirements allow and capture every drop of efficiency and cost-savings possible."

DocMagic's Total eClose platform, coupled with its dynamic document generation service, establishes a single-source solution that intelligently digitizes documents from initial disclosures through closing documents. STRATMOR Group's 2019 Mortgage Technology Insight Study ranked Total eClose(TM) the eClosing leader based on market share, overall satisfaction and lender loyalty. Further, the survey also ranked the company as having the highest market share in the document generation category.

The integration with Simplifile extends automation of the process through post-closing to ensure final documents, data and fee information are returned to the lender after recording is complete, which provides lenders with greater control over the process.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web- based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com/.

About Simplifile:

Simplifile, part of Intercontinental Exchange, is the nation's largest e-recording network, and connects settlement agents and county recorders via its e-recording service. It also offers collaboration tools and post-closing visibility for mortgage lenders and settlement agents working together on real estate documents. Through Simplifile, users can securely record, share and track documents, data and fees with ease. To learn more, visit https://simplifile.com or call 800.460.5657.

About Intercontinental Exchange:

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 6, 2020.

Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

*LOGO link for media: https://www.Send2Press.com/300dpi/20-0722s2p-docmagic-simplifile-300dpi.jpg

Tickers: NYSE: ICE / NYSE:ICE / NY: ICE

Related link: https://www.docmagic.com/

This news story was published by the Neotrope® News Network - all rights reserved.