Closinglock Secures $34M Series B to Expand Fraud Prevention in Real Estate Transactions

Closinglock, a fintech company specializing in fraud prevention for real estate transactions, has raised $34 million in a Series B funding round led by Sageview Capital, with participation from Headline and RWT Horizons. The new funding will support the company’s efforts to enhance security in real estate payments, protect against rising fraud threats, and scale its technology platform.

The Austin-based company has facilitated over $600 million in secure payments through its Good Funds Payments tool, preventing more than 8,250 fraud attempts and saving U.S. buyers and sellers over $1.24 billion in potential losses. In response to increasing cybersecurity risks, including AI-driven fraud, Closinglock has expanded its services with new identity verification features, seller bank account verification, and strategic partnerships with J.P. Morgan and DocuSign.

With its annual revenue growing 25x over the past three years, Closinglock is expanding its workforce and securing a new Austin headquarters to accommodate future growth. The company aims to continue strengthening real estate security and transaction efficiency through its AI-driven solutions, addressing an industry where fraud losses reached nearly $3 billion in 2023.