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May 13, 2020   Entrepreneurs, Start-ups, Small Businesses, FinTech and Alternative Finance, Fundraising, Investing, Trading, Innovation and Resources, Online Funding / Investing Campaigns, Venture Funding and Building   No comments

Proptech startup Doorr raises $1.75 million seed round

Betakit | Isabelle Kirkwood | May 6, 2020

door key - Proptech startup Doorr raises $1.75 million seed roundToronto-based proptech startup Doorr, which offers a mortgage platform for brokers and financial institutions, has raised $1.75 million CAD in seed funding. This brings the startup’s total funding to date to $2.25 million.

The funding was led by Celtic House Venture Partners and MaRS Investment Accelerator Fund. Techstars and several unnamed strategic angel investors also participated in the round. Doorr told BetaKit that it also received investment from Joshua Gans, chief economist at Creative Destruction Lab, through CDL Scientists and Economists Fund, which has no direct association with CDL.

The funds will be used to develop Doorr’s product, with a focus on improving deal velocity, accuracy, compliance, and the overall client experience.

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Muhammad Rashid and Craig Asano 1 - Proptech startup Doorr raises $1.75 million seed round

Muhammad Rashid and Craig Asano at NCFA's #FFCON19

Founded in February 2018, Doorr’s platform allows brokers and financial institutions to connect and collaborate with their clients on pre-approvals, refinances, and purchases, through an entirely digital experience. The platform was created to streamline and provide visibility to consumers on the mortgage application and approval process.

“We see Doorr’s vertically-integrated platform as essential for enabling the mortgage broker channel,” said Connor Edwards, senior investment manager at MaRS Investment Accelerator Fund. “I’ve been impressed with the team’s product-led growth and its ability to execute while keeping customers top of mind.”

“We find ourselves in a unique position to lead the transition by equipping mortgage specialists with the tools they need to offer a truly digital experience while being able to facilitate transactions remotely,” Rashid told BetaKit.

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NCFA Jan 2018 resize - Proptech startup Doorr raises $1.75 million seed round The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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