November 13, 2018
WebMax is a digital mortgage solution provider that develops tech-driven innovations for the homebuying industry. The FinTech company focuses on making the process of purchasing homes quick, simple, and seamless with its end-to-end platform concentrating on the needs of mortgage and real estate companies. Amidst steady success in the company’s acquisition of satisfied clients and strategic partnerships, WebMax is seeking to scale its proprietary platform with key technology investors in place.
Last week, Ben Franklin Technology Partners, announced its approval of a $3,000,000 investment in select companies across Southeastern Pennsylvania. With this news, WebMax was included in the investor’s announcement as an early stage company to be selected for funding. The announcement from Ben Franklin Technology Partners highlighted their selection of innovative companies in fields of information technology, digital health, health, and physical sciences as investment recipients. For more than 30 years, funding from Ben Franklin Technology Partners has helped accelerate technology-based firms develop innovative solutions.
As part of Ben Franklin Technology Partners’ vetting process, WebMax was responsible for laying out and passing a required Due Diligence report. This extensive report laid out the company’s business model, current market, potential market, future goals, management assessment, technology evaluation, security validation, and other important organizational details. As a result of their efforts and future-oriented goals, WebMax was granted an investment from Ben Franklin Technology Partners.
With this investment, WebMax plans to focus on the future of their digital mortgage platform. A key initiative WebMax will immediately implement from the funding includes improving the current product suite. This comes from adding new integrations and producing an overall improved lender-to-borrower experience. Additionally, the funding will aid in deployment of the company’s future roadmap. This includes plans to onboard additional highly skilled developers to aid in building their next generation digital solution.
“An investment from an established firm like Ben Franklin Technology Partners is not only important to WebMax’s advancement and accelerated growth in the mortgage industry, but it also comes as a great vote of confidence,” WebMax CEO Curt Tegeler said. “They’re known for fueling technological innovation and to have them on our side means we’re on the right path moving forward.”
The investment from Ben Franklin Technology Partners follows WebMax’s announcement of adding four C-Level executives as the company closes its seed round by Q1 of January 2019 and enters Series A round of funding in June 2019.
“WebMax’s team has a lot of great ideas and a solid future roadmap in place for innovating mortgage technology. With Ben Franklin’s investment, we’re ready to act on our great ideas and make them a reality,” said Tegeler.
WebMax, (http://www.webmaxco.com) believes that home buyers need a simpler, faster way to acquire a mortgage. In order to achieve this, WebMax provides intuitive digital mortgage software solutions designed to deliver a superior consumer borrowing experience while reducing the loan manufacturing cost. With products spanning the entire digital mortgage process, from the first borrower click to the last lender approval, WebMax makes sense of the digital-first regulatory-ridden mortgage Industry for borrowers and lenders alike.
About Ben Franklin Technology Partners
Ben Franklin Technology Partners, (https://benfranklin.org/) is one of the nation’s longest-running technology-based economic development programs. For more than 31 years, BFTP has provided both early-stage and established companies with funding, business and technical expertise and access to a network of innovative, expert resources.
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