Insurtech Flueid Software has wrapped up a strategic investment led by Aquiline Technology Growth (ATG), an early- and growth-stage fund managed by Aquiline Capital Partners.
The proceeds from the investment will be used for the further development of Flueid’s technology.
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Additionally, it will support the company’s existing product implementations as well as the sales and marketing team expansion for additional markets.
The business solutions offered by Flueid are intended to remove the outdated and costly inefficiencies related to real estate and mortgage lending transactions.
The company’s risk-eliminating automation products are said to streamline numerous traditionally manual backend title processing and closing functions of the present closing service providers.
Moreover, Flueid recently launched a solution that provides an underwriter-backed title clearance decision for mortgage lenders and servicers.
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By GlobalDataThis solution helps these institutions to more precisely point out loans within their portfolio or at point-of-sale.
It also eases the turn times for title work, enabling mortgage lenders to streamline their pipeline of loans based on the level of work and expertise necessary during loan underwriting.
Flueid CEO Peter Bowman said: “It’s exciting to see how Flueid’s solutions to automate the evaluation of potential consumer and property underwriting risk are being adopted by our customers.
“ATG’s financial support and significant experience in financial services and technology will help us build upon our vision of providing an enterprise-wide set of automation solutions even more rapidly and broadly.”
ATG head Max Chee said: “Flueid’s strong market momentum, product adoption and company growth are well-timed with the rapidly increasing demand for solutions that fast-track real estate closings while providing transparency for all parties involved.
“We are excited to partner with Flueid’s strong leadership team as the company enhances its strategic offerings and accelerates into this next stage of growth.”
