Mortgage Automator, a leading SaaS provider, has just announced a significant recapitalization agreement with the private equity entity BVP Forge. This move is designed to spur the company’s expansion and improve its offerings within the private lending and asset-based finance sectors.
The strategic partnership is poised to bring substantial operational benefits to private lenders utilizing Mortgage Automator’s services. The company’s CEO Pavel Tchourliaev and Chief Strategy Officer Joseph Fooks jointly expressed their enthusiasm for the deal. They highlighted the potential to enhance customer benefits significantly, as well as the opportunity to broaden their product and service spectrum with the support of Forge’s resources.
An operating partner at BVP Forge, Tom Obermaier, echoed these sentiments. He shared that Mortgage Automator will tap into ForgeEdge, the operating resource program of Forge, as well as the growth intellectual property, workshops, and programming offered by Bessemer Venture Partners’ renowned platform. Obermaier stressed their excitement in supporting Mortgage Automator’s goal to penetrate deeper into the private lending industry’s value chain and ecosystem.
Currently, Mortgage Automator is a key player supporting more than 375 clients globally, including markets such as the United States, Canada, Australia, and New Zealand. The platform has impressively managed transactions exceeding $20 billion in 2023. The user-friendly interface of Mortgage Automator streamlines intricate processes such as customer relationship management, loan origination, execution, servicing, and reporting—making it a top choice for industry professionals.
BVP Forge specializes in recapitalization, operating as a venture capital and private equity firm with a keen interest in software-centric businesses that show potential for significant growth. It capitalizes on Bessemer Venture Partners’ broad capabilities and international presence.
Rob Arditi, a partner at BVP Forge, praised Mortgage Automator for its exceptional customer satisfaction levels, which have translated into impressive growth and continued profitability. He noted the vital role the platform plays in clients’ operations and the positive reception of its seamless user experience. Arditi also expressed gratitude for the partnership with Mortgage Automator, emphasizing the mutual benefit of the collaboration.
