Property ManagementUltraprise Loan Technologies, Inc. Closes $9.5 Million Round
Ultraprise Loan Technologies,
Inc., the mortgage technology company created by the merger of Ultraprise
Corporation and LoanTrader, Inc., announced today that it has closed a $9.5
million round of equity funding led by Capital Z Financial Services Fund II,
L.P.
Ultraprise Loan Technologies will use the new round of venture funding to
integrate the two companies and expand its customer base by marketing an
end-to-end solution that significantly addresses the operational
inefficiencies in the mortgage industry"s primary and secondary markets.
Capital Z Financial Services Fund II, L.P., a global private equity fund
focused on investment opportunities within the financial services, insurance
and healthcare industries, led the financing. Previous investors FBR
Technology Venture Partners and FBR Financial Service Partners, as well as
new investor, Koch Ventures, Inc. participated in the round.
Ultraprise Loan Technologies, Inc. provides the technology infrastructure
for
loan processing from origination to securitization. The company"s robust
suite of Web-based services is available as either a hosted ASP solution or
as licensed software. Formed by the merger of two mortgage technology leaders
- Loan Trader, Inc., in the primary market and Ultraprise Corporation, in the
secondary market - Ultraprise Loan Technologies, Inc. integrates existing
corporate applications and infrastructures to automate data movement and
enable intelligent interactions between originators, lenders, third-party
service providers and Wall Street.