cloudvirga raises USD7.5m to automate mortgage process

cloudvirga has raised USD7.5M in its series A funding sponsored by Dallas Capital with participation from Upfront Ventures and Tribeca Angels, the company said.

The company said it intends to use the funds to continue scaling its enterprise platform in the cloud and adding key staff members for implementation. The company is leveraging data and deploying an automated workflow to reduce overall cost, increase transparency and shorten the time it takes to close a loan for all parties involved.

Cloudvirga is a fintech company developing the cloud-based intelligent mortgage platform designed to streamline the mortgage process. Since launching in August of 2015, cloudvirga has processed nearly USD5.0 billion in loans.