Closinglock, a leading fintech and fraud prevention platform for the real estate industry, has raised $34 million in Series B funding, led by Sageview Capital with participation from Headline and RWT Horizons. The investment will further Closinglock’s mission to secure U.S. real estate transactions, prevent fraud, and streamline fund transfers.
Securing Billions in Real Estate Transactions
Since its inception, Closinglock has:
Protected over 1 million home sales worth $500B+
Facilitated $600M+ in secure payments via its Good Funds Payments tool
Prevented 8,250+ fraud attempts, saving $1.24B in avoided losses
“Buying a home is the biggest investment most families make, yet a single fraudulent email could wipe out their savings,” said Andy White, CEO and co-founder of Closinglock. “Our platform ensures this doesn’t happen.”
Addressing the Rising Threat of Real Estate Fraud
With real estate fraud on the rise—leading to $3B in consumer losses in 2023—Closinglock is expanding its fraud prevention capabilities, including:
Enhanced AI-driven identity verification (400,000+ reports generated in 2024)
Early Deposit payment option for increased transaction security
Improved seller bank account verification
Additionally, Closinglock has expanded its payment offerings through key partnerships, including J.P. Morgan and DocuSign, reinforcing its commitment to securing real estate transactions from end to end.
Investor Endorsement & Future Growth
Ned Gilhuly, Founding Partner at Sageview Capital, praised Closinglock’s impact on eliminating wire fraud, improving ID verification, and streamlining real estate payments. “With 25x growth in three years and a 90% customer satisfaction rating, Closinglock is transforming the industry.”
Growth Highlights:
- 25x revenue growth over the past 3 years
- Doubled Austin-based headcount in 2024 (now at 73 employees)
- Expanding to a new downtown office
- Continued hiring into 2025
With its Series B funding, Closinglock is set to further redefine security, efficiency, and trust in real estate transactions, ensuring homebuyers and sellers avoid fraud and transfer funds seamlessly.
