Digital Mortgage Startup Maxwell Raises Additional $52.5 Million
Denver-based startup Maxwell, an online platform for mortgage loan officers and small lenders, raised $52.5 million in funding. The cash injection includes $28.5 million in equity funding from Wells Fargo and venture firm Fin VC. Maxwell announced the funding on their Facebook page. The additional funding comes on top of the $16 million it raised in its Series B round seven months ago. The money will be used to advance their tech, as well as hire sales, marketing, engineering, and product staff. The company’s goal is to change “lender operations and borrower expectations” by making mortgage applications, processing, and underwriting more efficient. “We’re really focused on modernizing the mortgage market, particularly for small and mid-sized lenders serving America’s communities,” Maxwell…
