A look at Biden’s first week in office

This episode reviews last week’s inauguration of President Joe Biden, examining which housing issues the new administration has already taken action on.

Biden’s executive order will extend foreclosure moratorium

President Biden revealed his plan to sign 17 executive orders his first day in office, including am extension of the eviction and foreclosure moratorium to at least March 31.

If consumers aren’t holding lenders back, then who or what is?

The challenge for lenders and investors is understanding how to meet borrowers where they are without layering on risk or getting bogged down in third-party intermediation.

HomeBridge’s Brian White on diversity at a practical level

HomeBridge's Brian “Woody” White discusses ways to increase diversity within the housing finance industry.

Fintech

Qualia raises $55 million to continue growing real estate closing platform

Series C round more than doubles previous capital raised

Qualia, a real estate closing technology company, is now positioned to seriously grow its platform thanks to a sizable injection of new funding.

Qualia announced Wednesday that it raised $55 million in its Series C funding round, more than doubling its previous funding total of $40 million.

Last March, Qualia raised $33 million in its Series B funding, and with the new funding, the company has now raised $95 million overall.

According to Qualia, investment firm Tiger Global led the company’s Series C funding round. Tiger Global’s involvement in the funding is notable, as according to Crunchbase, Tiger Global previously invested in companies like Square, Warby Parker, Glassdoor, and Peloton, among others.

Also participating in the funding round were existing investors Bienville Capital, 8VC, and Menlo Ventures.

According to Qualia, the company plans to use the new funding to “hire top talent in their product, engineering and go-to-market teams, with a focus on accelerating growth and building strategic partnerships.”

Qualia has been in growth mode for the last several years, earning the company the honor of being named to the HW Tech100 multiple times.

According to the company, Qualia more than tripled its market share in the last two years, growing from 5% of all U.S. real estate transactions in March 2018 to more than 15% now.

Qualia’s platform currently handles more than 1 million transactions per year and the company has completed closings in 82% of the counties in the U.S.

It’s that growth that attracted Tiger Global, according to Scott Shleifer, partner a the investment firm.

“The workflow for most residential real estate transactions remains antiquated and opaque,” Shleifer said. “Qualia has created a modern system of record, communication, and action for title insurance agents and mortgage originators and we believe their software platform materially improves productivity and reduces costs.”

Menlo Ventures, which also participated in the company’s previous capital raise, has been very impressed with Qualia’s performance thus far.

“Qualia has one of the most impressive retention rates that we’ve seen across SaaS companies,” said Tyler Sosin, partner at Menlo Ventures. “Qualia has a market opportunity to become the backbone infrastructure powering the digitization of real estate.”

Nate Baker, CEO and co-founder of Qualia, said that the company is “excited” to have the support from its investors as it seeks “help real estate professionals and homebuyers navigate the complexities of the real estate closing process by bringing everyone onto one shared, easy-to-use and secure platform.”

Most Popular Articles

Biden’s executive order will extend foreclosure moratorium

President Biden plans to sign 17 executive orders his first day in office, including an extension of the eviction and foreclosure moratorium.

Jan 20, 2021 By

Latest Articles

Biden calls on HUD to address racial equity

President Joe Biden’s Tuesday orders include a memorandum that directs HUD to both mitigate racial bias in housing and advance fair housing laws.

Jan 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please