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HousingWire Magazine: December 2021/ January 2022

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Fintech

Fintech company Total Expert raises $52 million in Series C funding round

Capital raise more than doubles previous funding total

Just over a year ago, Total Expert, a growing fintech company that provides a marketing and customer engagement technology platform for banks, lenders and financial services firms, raised $20 million in its Series B funding round.

That funding brought Total Expert’s overall capital raise to $34 million.

Now, the company has closed on a new funding round that more than doubles its previous funding total.

Total Expert announced Thursday that it raised $52 million in its Series C funding round, bringing the company’s total funding to $86 million.

Growth equity firm Georgian Partners led the funding round, along with participation from previous investors Emergence and Rally Ventures.

“We are incredibly excited about Total Expert’s approach to building trust and maximizing the long-term value of relationships between consumers and lenders,” said Simon Chong, managing partner and cofounder of Georgian Partners.

“The future of consumer finance is engaging across all product and customer needs during their financial life, and Total Expert is the category leader powering this humanized automation and compliance at scale,” Chong added.

According to Total Expert, the company plans to use the new funding to expand on its current workforce of 218 employees by hiring additional data scientists, designers and industry experts.

The company will also use the money to boost the development of its APIs, machine learning and AI capabilities.

Total Expert, which is has been named to the HW Tech100 multiple times, has grown revenue 684% since 2017 and increased its customer base by 8.5 times to more than 100 enterprise customers.

And now, the company is positioned to continue growing rapidly thanks to a hefty new funding round.

“The future of financial services belongs to firms that combine human interaction with technology in a way that creates higher quality and more relevant experiences throughout the entire customer journey,” said Joe Welu, founder and CEO of Total Expert.

“Every interaction a consumer has with a financial services brand either erodes trust or builds trust, and legacy technology makes it difficult to deliver on the expectations of the modern consumer,” Welu added. “Our mission is to ensure that banks and lenders create customers for life by delivering on these expectations.”  

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