Ocrolus, a Fintech startup based in New York, has risen $ 80 to expand the C million funding document automation platform.
Directed by Fin VC, the round of financing includes Thomvest Ventures, Mubadala Capital, FinTech Collective, Bullpen Capital, ValueStream Ventures, RiverPark Ventures, Stage 2 Capital, Cross River Bank, etc. Ocrolus’s Board of Directors said about the shift:
“Mortgage lenders and banks recognize that they need to adopt the same workflow digitization and procurement automation used by fintech lenders. We are pleased to support Ocrolus, a leading category in back-office automation.”
Founded in 2014, Ocrolus provides a document automation platform that automates credit decisions in the fintech, mortgage and banking sectors to help financial services companies make reliable and highly efficient data decisions. The platform provides comprehensive capabilities in the classification of financial documents, the capture of key areas and the analysis of cash flows. Sam Bobley, founder and CEO of Ocrolus, mentioned the role of the startup:
“Our platform helps lenders automate subscriptions and intelligently leverage cash flow and revenue data to get credit. To make it easier for lenders to analyze multiple sources of financial data, Ocrolus equates the requirements of each lender by providing broad access to credit at a lower cost. ”
The startup will include more than 75 corporate companies in 2021 so far, which is a reflection of the growth it has seen since it created the platform. With a grant of more than $ 100 million, Ocrolus is opening a new data quality control facility in Florida and plans to expand its workforce in 2022 to meet the growing demand for its platform.
Platform developed by the website fintech startup already trusted and used by financial services companies such as Brex, Enova, LendingClub, PayPal and Plaid. These companies prioritize back-office scalability and flexibility to improve the efficiency of their operations, reduce costs, and direct resources to other areas.