TMC TECH FUND NEWSLETTER
MTD,heldalongsideTheMortgage Collaborativeconferences,offers mortgagetechstartupsachancetowin a$5,000prizefromtheTechFund.MTD mimics"SharkTank,"withfounders presentingfor8minutesfollowedby7 minutesofQ&Afromapanelofjudges drawnfromventurecapitalfunds,our LimitedPartners,andindustryexperts.
Presentersgettheopportunityto“test drive”theirbusinessplanswithpotential customersandinvestorswhoprovide valuable,real-timefeedback.TMC membersgaininsightintotechnology trendswhilevotingforthefirst-place finisher.
Wearecurrentlyscreeningcompaniesto presentattheupcomingMTDtobeheld onSunday,September8,2024,atthe HyattRegencyDenver.Contactusfor moreinformationbyEmail.
FigureLaunchesTBAMarketforNon-Agency Loans:
FigureTechnologySolutionsannouncedthe launchofFigureConnect,ablockchain-based marketplaceforprivatecreditloans.Initially focusingonFigure'sHELOCs,theplatform allowsoriginatorstomanageloanpricingand commitmentsefficiently.Currently,only Figure'spartnerscanaccessthemarketplace, butthereispotentialforfutureexpansion. Readmorehere.
Rent-PaymentReporting:
Apartnershipbetweenapersonalfinance platformEsusuandtheNationalRentalHome Councilhasseveralofthetradegroup's membersdeliveringpaymentdata,whichthey claimhashelpedtogenerateover15,000new mortgageoriginationsinitsfirstyearof operation.Readmorehere.Esusuemphasizes theroleofrentreportinginovercoming systemicfinancialbarriersforimmigrantsand minorities.Investinginrentreportingisseenas along-termstrategy,butwithknownbenefits ofimprovedcreditscoresthatcreatemore viableaccesstomainstreamloans Readmore inthisarticle
ThoughtLeadership
VentureCapitalInvestinginTech: Inhismostrecent“LykkenonLending” podcast,DavidLykkendiscussesventure capitalinvestingintechandAIwithChrisBixby fromRiceParkCapitalandJodiHall,CEOof DandaRoad.Findthisepisodehere.
PortfolioCompanyNews
Maxwell'sAItool,AskMax,isanewbackendLOSpluginwithinMaxwellBusiness Intelligencethatgleansproduction intelligenceintheformofgraphsand charts.Nodatabaseengineeris necessary.
CleverRealEstatewashonoredasa finalistintheSt LouisBusinessJournal's BestPlacestoWork2024awards Capacity'scustomersupport automationplatformmadethelistof Top50forAIProductsandCustomer ServiceProductsfromG2’s2024Best SoftwareAwards.
HalcyonisintegratingwithFannieMae’s DesktopUnderwriter®validationservice. Halcyondigitallysourcesincome verificationdirectlyfromtheIRS, eliminatingthemanualprocesssteps.
HomeLendingPalhaspartneredwith Credit.orgtoassistpotentialmortgage applicantstoaccesscreditanddebt counselingserviceswithitsnew platform,Pathfinder.
CBInsights’recentMortgage InvestmentData:Fintechfunding rebounded19%inQ2tohit$89B a 5-quarterhigh–butstillfarbelowthe levelsseenin2021and2022 Valuationsremaindepressedandthe exitenvironmentrelatively challenging
FinovateSpringRecap:aconference forfintechinnovators,washeldinSan FranciscoinMay Topprioritiesfor banksincludetechnologythathelps tosecuredeposits,automate processes,andpreventfraud.Read moreaboutproductpresentations andkeytakeaways’here!
DealNews!
Beelinesecured$3millionfromJosephGunnar &Co.onJune5andanother$23.30millionin convertibledebtonJune11.Theirplatformis designedtosimplifyfinancingusingAIand personalloanguides.
Genraeoperatesaplatformthatallows investorstohelpfunddownpaymentsinreturn forashareofhomeappreciation.Thecompany raised$500,000inconvertiblenotesfrom undisclosedinvestorsonMay17,2024.
Finlocker,afinancialdataandanalyticssoftware companythatprovidescriticalborrower informationraised$17millionofSeriesBventure fundingonMay14,2024fromRadianGroupand others
SaafFinanceraised$17millionofseedfunding fromMorganCreekCapitalManagement,MVC (NewYork)andothersfortheirplatformthat automatesunderwritingandcompliancewith customrulesandcreditpolicyoverlays
Groundfloor,arealestateinvestingandlending marketplace,raised$5484millionsonApril3, 2024fromundisclosedinvestors
TMC TECH FUND NEWSLETTER
Announcement!
We are excited to announce the addition of our newest corporate partner, the Andromeda Division of Constellation Software’s Perseus Operating Group!
“TMC’s deep industry expertise and focus on innovation perfectly aligns with our own commitment to supporting growth in the mortgage technology sector. Together, we can identify and invest in promising companies that are shaping the future of lending,” says Bonnie Wilhelm, CEO of Andromeda
FHFAPlansforMultifamilyTech,including ‘RAG’Models.
UWMlaunchestheAI-drivensystem, KEEP,thatidentifiesborrowersinneedof arefinance.
TheMortgageIndustryDiscussesTech WantsandNeedsinArizentSurvey
NCRC,FintechsurgeCFPB,FHFAtoadopt AIguidance.
iEmergent:Withtherightmortgagetech, lenderscanmitigateredliningriskand drivebusinessgrowththrough multiculturallending
Thomvest:Isthenextfrontierin generativeAItransformingTransformers?
FifthWall:HelpingRealEstateFirms EmbraceTech:FifthWall’sCEO8insights.
JLLSpark:TheAdvantagesofAI:HowCan We,asanIndustry,MaketheMostofit?
TMCMortgageTechDay
Launchedin2020,MortgageTechDay(MTD)isa pitchcompetitionformortgagetechstart-ups heldduringTMC’ssemi-annualconferences SimilartoSharkTank,participantshave8minutes topitchtheirproducts,followedby7minutesof Q&A Thejudgesandaudiencescoreeach presentationona1-10scaleontheconference app,andthewinnerreceivesasmallcashprize andbraggingrights.Thisformatoffersstartups valuablemarketfeedbackwhileattendeesseea glimpseoftheindustry’sfuture.
DocutechproudlysponsoredMTDinDenver. RobertDempster,SVPatDocutechandfirst-time judge,shared:
“TechDayisamust-attendforme.Ienjoyseeing innovativeserviceseachstartupoffers Itprovides aglimpseintothefutureofmortgagetech,andit wasapleasuretohelpshapetheevent.I’m alreadyexcitedforthenextone!”
FivestartupscompetedinMTDDenver:Newzip, Inflooe entive
MeettheWinner:Inflooens
Inflooensisrevolutionizingthemortgageindustry withinnovativeSaaSsolutionsontheSalesforce platform Theirall-in-oneinterfaceconnects everystakeholderintheloanoriginationprocess
CapacityExpandsVoiceandContract CenterCapabilitieswithCereProcand SmartActionAcquisitions
CleverRealEstateunveiledindustryinsights amidlandmarkNARcommissionlawsuitin August
HalcyonandCoreLogicIntegratetoProvide anIncomeVerificationPowerhouse
Maxwell’sSidelinedHomeBuyer’sReport: ChallengesandApproachestoEnteringthe MarketintheNextYear
DealNews
Pollyraised$25millionofSeriesB-1venture fundinginadealledby8VCSeptember2024. KhoslaVentures,MeritechCapitalPartners,Fifth Wall,MenloVentures,andotherundisclosed investorsalsoparticipatedintheround.
ValonMortgageraised$70millionofventure fundingfromundisclosedinvestorsAugust2024.
CommLoanraised$10millioninSeriesA1and SeriesA2venturefundingfromundisclosed investorsAugust2024,puttingthecompany's pre-moneyvaluationat$13million.
Paperstacraised$500kofSeed-1fundingfrom undisclosedinvestorsAugust2024.
Approva,soldSAFEnotesforanundisclosed amounttoBrickyard(Tennessee),MichiganRise andC2VenturesJuly2024InvestTNandRed CedarVenturesalsoparticipatedintheround
Relcuraisedanundisclosedamountfrom ClocktowerVenturesJuly2024
Pictured: Sandy Selman, TMC; Amit Ghole, Inflooens; George Milan, Inflooens; Janelle Lindseth, Docutech; Vik Sasi, TMC; Jon Freed, Trained
TMC TECH FUND NEWSLETTER
CallingAllMortgageTechStartups
JoinUsatMortgageTechDay!
Areyoureadytoshowcaseyourinnovationand competefora$5,000prize?MortgageTechDay (MTD),hostedalongsideTheMortgage Collaborativeconferences,isyourplatformtopitch, connect,andgainreal-worldfeedbackfrom industryleadersandinvestors.
Think“SharkTank”formortgagetech–you'llhave 8minutestopresent,followedby7minutesof rapid-fireQ&AfromapanelofVCsandindustry experts,aswellasanaudiencefilledwithIMBs.
Beyondthecompetition,thisisyouropportunity toengagedirectlywithpotentialcustomersand investorswhocanhelptakeyourcompanyto thenextlevel.
We’renowselectingstartupstoparticipate. Whetheryou’relookingforfunding, partnerships,orindustryinsights, MTDiswhereyouneedtobe!
1.TheRiseofAI-PoweredMortgage Underwriting Lendersareincreasinglyadopting AI-drivensolutionstostreamline underwritingprocesses Machine learningmodelsenhanceborrower riskassessment,reducingapproval timesandimprovingoperational efficiency. CGI
2.RegulatoryUpdatesImpacting FintechinMortgages
TheConsumerFinancialProtection Bureau(CFPB)hasissuedguidance addressingtheethicaluseofAIin mortgagelending.Lendersutilizing AImustensuretransparencyand fairnesstopreventdiscriminatory practices Physorg MortgageTechNews
EventDetails:
Sunday,March16@2pmCST
Live!ByLoews,Dallas,TX ��ContacttheTechFundfor moreinformationHERE
Infinant,aUSBankingTechnologyStart-Up, Lands$15minSeriesAFundingRound.
Groundfloorraised$1.2mofequity crowdfundingviaRepubliconNovember1, 2024.
Pylonraisedanundisclosedamountofventure fundingfromCitiSPRINTandCitiVentureson November26,2024
Bee(FinancialSoftware)raised$1.8mofequity crowdfundingintheformofSAFEnotesvia WefunderinDecember2024.
Genraeraised$750kofventurefundinginthe formofconvertibledebtfromundisclosed investorsonDecember20,2024.
BeelinewasacquiredbyEastsideDistilling (NAS:EAST)foranundisclosedamounton October10,2024.
ThomvestInvestsinRelyanceAI:Leadingthe FutureofTrustintheAIera.
SpliteroReceives$350MillionCapital Commitment
ThoughtLeadershipFrom OurSyndicateFund
TheImpactofAIonRealEstatein2024: In2024,realestateemergedasaleaderinAI adoption,with8%offirmsusingAI ranking fourthamong19industries,aheadoffinance andinsurance(USCensusBureau).
MetaProp'sImpactsofAIinRealEstatereport highlightshowtopfirmsuseAItostreamline underwriting,leasing,andoperations,boosting efficiencyandprofitability.
Source: 2024Outlook:TheImpactofAIonReal Estate|Metaprop
InterestedinjoiningtheFund? Anyaccreditedinvestorcan participate.EmailTMCTech Fundformoreinfo.
CapacityGrowswithNewCashAnd Acquisitions:Lucy,Envision,andLinc
HowHomeBuyers,Sellers,andAgentsAre AdjustingtoRealtorCommissionChanges: 2024Data|Clever
HalcyonAnnouncesStrategicPartnership withDataVerifytoProvideDigitalIRS IntegratedIncomeVerification
RealEstateVCFifthWallisRaising$500M ForaNewFund
ViceCapitalMarketsSigns50thInvestor PartnertoViceExMortgageWholeLoan TradingPlatform
LargestProptechPre-SeedFundingEver:100 Raises$52MtoSpeedUpRentalScreening
SecondCenturyVenturesSelectsEightTech Companiesfor2025REACHCanada Program WhereDoesMortgageTechInnovationand FundingGoin2025?
MortgageIndustryTrendsin2025:11Experts WeighIn|Aidium