# Maxwell Financial Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/maxwell-financial-labs

- Industry: Software
- Headquarters: Denver, US
- Website: www.himaxwell.com
- Total disclosed funding: $21M
- Latest round: Series B (Mar 25, 2021)
- Investors on record: 14

## About

Based in Colorado, US and founded in 2015, Maxwell Financial Labs, Inc. is a provider of a digital mortgage and fulfillment platform for small to midsize mortgage lenders, including non-depository mortgage banks, community banks, brokers and credit unions. As of August 2021, John Paasonen is the current CEO of the company. In March 2021, the company raised USD 16.3 million in a Series B funding co-led by Fin Venture Capital and TTV Capital, with participation from Prudence Holdings, Rotor Capital, Anthemis Group, Cantos Ventures, Route 66 Ventures, Sovereign Capital Partners, and Thirdstream Partners, resulting in total funding of USD 21.25 million.

The company offers digital platforms, Fulfillment Services and Diligence Services having multiple features including QuickApply™ pre-fill loan application, smart and fully customizable 1003, and White-label branding. Under the Fulfillment Services, the company provides processing services, closing services and underwriting services. 

The company generates revenue through a SaaS model, where clients purchase services. The pricing of processing services ranges between USD 300 to USD 450, underwriting services range USD 250 to USD 350 and closing services ranges up to USD 123 per borrower file.

The company plans to use its proceeds from March 2021 to further penetrate the USD 4 trillion US mortgage market as well as accelerate digitization for small and midsized lenders.

## Funding rounds

- Series B, Mar 25, 2021, $16M — Sovereign Capital Partners, TTV Capital, Anthemis, Route 66 Ventures, Prudence, Cantos Ventures, Thirdstream Partners, Fin Capital, Rotor Capital
- Series A, Sep 3, 2019 — Anthemis
- Seed, Dec 4, 2017, $3M — Sovereign Capital Partners, Zelkova Ventures, Anthemis, Route 66 Ventures, Math Venture Partners, Cantos Ventures, Assurant Growth Investing, Thirdstream Partners
- Seed, Nov 14, 2016, $1.9M — Sovereign Capital Partners, Zelkova Ventures, Techstars, Timberline Capital, Math Venture Partners, Cantos Ventures

## Investors

- Sovereign Capital Partners — Seed, Series B
- Zelkova Ventures (https://capitalatlas.ai/funds/zelkova-ventures) — Seed
- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Timberline Capital (https://capitalatlas.ai/funds/timberline-capital) — Seed
- Math Venture Partners (https://capitalatlas.ai/funds/math-venture-partners) — Seed
- Cantos Ventures (https://capitalatlas.ai/funds/cantos-ventures) — Seed, Series B
- Anthemis (https://capitalatlas.ai/funds/anthemis) — Seed, Series A, Series B
- Route 66 Ventures (https://capitalatlas.ai/funds/route-66-ventures) — Seed, Series B
- Assurant Growth Investing (https://capitalatlas.ai/funds/assurant-growth-investing) — Seed
- Thirdstream Partners (https://capitalatlas.ai/funds/thirdstream-partners) — Seed, Series B
- TTV Capital (https://capitalatlas.ai/funds/ttv-capital) — Series B
- Prudence (https://capitalatlas.ai/funds/prudence) — Series B
- Fin Capital (https://capitalatlas.ai/funds/fin-capital) — Series B
- Rotor Capital (https://capitalatlas.ai/funds/rotor-capital) — Series B