Closinglock, a fintech and fraud prevention company, secured $34 million in Series B funding to enhance security in U.S. real estate transactions. With a track record of protecting over 1 million home sales worth more than $500 billion and preventing over 8,250 fraud attempts, Closinglock aims to combat rising real estate fraud, which caused $3 billion in consumer losses in 2023. The funding will bolster its AI-driven identity verification and payment options, partnering with organizations like J.P. Morgan and DocuSign to ensure seamless transactions and customer satisfaction.
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.
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.
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