Roostify Closes Series A Financing
Summary
Roostify, a San Francisco, Calif.-based provider of automated mortgage transaction technology, closed a Series A round of financing.The round, of undisclose amount, was led by a subsidiary of USAA, a financial services provider to the U.S. military and their families, with participation from two Tier 1 banks and Colchis Capital.The company intends to use the funds to expand the technology and add more lenders and other stakeholders to the platform.Led by Rajesh Bhat, CEO, Roostify aims to simplify the home mortgage transaction process by creating an enviroment in which all parties have access to a dashboard, which which results in transparency, accountability and cost savings.Since its launch in early 2014, the company has partnered with Fannie Mae, Yodlee, and others processing thousands of mortgage applications through its platform.