San Francisco, CA – October 28, 2021 – RealKey, an innovator in digital mortgage technologies that enable bank and non-bank mortgage lenders and brokers to streamline the mortgage loan processing experience, today announced that it closed $3.4 million in seed funding, led by Zulu Assets. Additional investors included 2Enable Partners, Second Century Ventures (NAR-National Association of Realtors investment arm), Sandalphon Capital, Little Green Bamboo Capital, and numerous notable angel groups.
The seed funding was oversubscribed by $400K, further solidifying RealKey’s position in the digital mortgage space. The infusion of capital will enable RealKey to accelerate the launch of new products, broaden its services, and aggressively pursue new market opportunities.
"We are excited to support RealKey's transformation of loan processing,” said Blake Picquet of Zulu Assets. “Who hasn't had a bad experience in the lending process?RealKey is poised to dominate this space once lenders and brokers realize the time savings and efficiencies that can be gained by all parties.”
Over the past year, RealKey has experienced rapid growth, solidifying partnerships with Flagstar Bank, one of the largest residential mortgage servicers and banks in the United States. In addition, the company now has nearly 100 lenders and 3,500 loan programs built into its AI, as well as hundreds of brokerages utilizing RealKey’s digital mortgage platform.
“We are excited to partner with our investors, whose investment in our company further validates RealKey’s positive momentum in the mortgage space,” said Christopher Hussain, CEO, RealKey. “We are growing rapidly as we move closer to our vision of a document-centric and unified approach to finance and fintech. We look forward to progressing to the next phase of our AI to automate processing and underwriting further, improving communications, implementing our own OCR, and integrating with more lenders’ LOSs, POSs, and other ecosystem partners. We could not have accomplished what we have without a great team and the support of our investors.”
RealKey is an innovative provider of digital mortgage technologies that enables bank and non-bank lenders to streamline the mortgage processing experience. Disrupting the status-quo in the mortgage industry, the RealKey Automated Lending Platform (ALP) makes the mortgage process more efficient and empowers Lenders and Brokers to close more loans, faster, with less effort.
RealKey fills the gaps of present and established systems in the industry (LOSs, POSs, and AUSs) that do not address inherent/historic inefficiencies. The RealKey platform provides automated and intelligent collection of documents, review of data, and secure communications among all parties involved. These combined capabilities shorten the loan processing cycle by roughly 50%, giving Lenders and Brokers time to close more loans and grow their business to meet increasing loan application demands. RealKey’s software works seamlessly with existing point-of-sale and loan origination systems to bring an end-to-end, fully digital mortgage processing experience to lenders, brokers and their clients.
For more information, please visit RealKey.