Los Angeles based mortgage servicing startup has raised a $10m Series A led by Point72 Ventures.
Brace developed a modular, digital platform for mortgage servicing that improves the customer experience and reduces the cost to service. By pioneering this new software solution for mortgage servicers, Brace improves communication and transparency among homeowners, servicers and investors. Importantly, Brace’s platform automates workflows to ease decisioning among these core constituencies. “Point72 Ventures adds significant value to our team with its deep bench of resources and expertise that will support us in furthering business development efforts, go-to-market strategy, and product expansion. Right now, servicers are forced to use decades-old technology to manage millions of US mortgages—a problem that gets much worse for servicers who manage borrowers that are non-performing,” said Eric Rachmel, CEO of Brace.