Online mortgage producer Neat Capital Inc. has closed on a $22.5 million Series B round.
In a statement Tuesday, the Boulder-based company said the funds will be used to scale up its operations and add new lenders to its platform.
Neat Capital is an online-only mortgage originator, using algorithms to find competitive mortgage rates or refinancing offers for buyers. It is currently licensed to lend in California, Colorado, Connecticut, New Mexico, Texas, Washington State and the District of Columbia.
BizWest reported the company’s initial disclosure of the round last month, which at the time totalled just more than $20.5 million. Approximately $15.22 million of that is to be sold in a second closing in the future, according to the disclosure to the U.S. Securities and Exchange Commission.
The company raised $13 million in its initial funding round last summer.
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