FirstClose Raised $35 Million in Equity Funding

FirstClose, an Austin, TX-based fintech provider of data and workflow solutions for mortgage and home equity lenders nationwide, raised $35M in Equity funding.

Lateral Investment Management made the investment.

The company plans to use the funds for expansion of its financial services presence. It will leverage property data intelligence, partner technology, and technology to allow lenders to compete to close consumer loans.

FirstClose is led by Tedd Smith, CEO. FirstClose offers underwriting workflow automation technology and point-of-sale Software and data services for U.S. home and mortgage markets. This allows for faster closing HELOCs and mortgages to more than 400 credit union and banks customers. To integrate its workflow automation and data solutions into other LOS companies, the company has formed strategic partnerships with MeridianLink.

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