Doorr enables agents and brokers to smoothly work with clients and realtors with the help of a collaborative digital platform. The newly added amount brings the total funding to $2.25 million CAD.
The world is all set to witness the vertically integrated platform as a necessity for empowering the mortgage broker channel. It is a great step to improve the focus on product development.
Do you want to know about the digital transformation of mortgages? Let’s see how this Toronto-based Property Technology startup raised a total of $1.75 million CAD in seed round funding.
“Want to know about the digital transformation of mortgages? Let’s see how Toronto-based prop-tech startup raised a total of $1.75 million CAD in seed round funding.”
Doorr enables agents and brokers to smoothly work with clients and realtors with the help of a collaborative digital platform. It is clear that traditional brokerages lack motivation and focus, hence; they fail to ameliorate the user experience. This platform picks out all the shortcomings of this specific process.
It is basically a first broker management platform that delivers complete ownership and power over the data. The platform is turning a lot of heads and leading the digital transformation of mortgages.
The change is being led by a completely customizable platform that manages different aspects of a workflow. It takes care of everything from client engagement to applications.
On this page
What Is The Latest Buzz?
Doorr was able to raise a total of $1.75 million CAD in seed round funding. This is a great step to improve the focus on product development. The newly added amount brings the total funding to $2.25 million CAD.
The world is all set to witness the vertically integrated platform as a necessity for empowering the mortgage broker channel. The platform has streamlined the app process.
Now it only requires the users to fill in essential information and the deploying tech in order to handle the rest. This way, the users can spend more time with the clients rather than wasting it on excessive paperwork.
The funding was led by MaRS Investment Accelerator Fund and Celtic House Venture Partners. The funding round also saw participation from Techstars and multiple unnamed strategic investors. The brand also received investment from the Chief economist at Creative Destruction Lab, Joshua Gans.
The collected funding will be used to develop Doorr’s product. The brand would be laying special focus on improving –
- Deal velocity
- Accuracy
- Compliance
- Overall client experience
Unraveling More Details About The Startup
It was founded in February 2018. The platform permits financial institutions and brokers to connect and collaborate with each other. It digitalizes the process of collaboration with the clients on purchases, pre-approvals, and refinances.
The purpose of developing this platform was to provide visibility about mortgage applications and approvals. Its product-led growth and ability to execute keeping the customers on priority is remarkable. Doorr is one big step towards the modernization of the home-buying process.
After its partnership with Purview and Filogix, the brand is able to offer a highly comprehensive brokerage-management software. The company has coupled the key processes together into a single intuitive interface.
The brand is simplifying customer engagement with the help of email marketing. One can set up automatic email alerts to keep the clients updated about the growth of their app. They can –
- Send direct messages to the clients
- Request additional documentation
- Remain updated about the progress
What Are The Building Blocks Of Doorr?
Take a look at the values on which the company stands –
Dedicated Teamwork – Easy communication and dense flow of ideas come naturally to Doorr. Team members bring out the best and trigger growth. The teamwork feeds the strength and eradicates the persisting weaknesses.
Complete Integrity – It boosts the level of trust and helps to move forward. The clients’ trust is the driving factor.
Thorough Courage – courage is the reason that leads the innovation to its zenith.
Doorr comprises The Following Features
Client’s Journey
It allows the users to stay organized by digitalizing the entire experience from the initial step. One can access the file in a single step. Emails, submissions, followups, and applications, the platform digitalizes everything.
- One can manage existing clients
- Upload/download required documentations
- Review and store the leads
E-mail Marketing
It is great in providing help to the users in order to smoothly engage with the right clients and at the right time. One can do so by implementing email marketing campaigns that draw useful insights from application data and leads, so that content can be pushed to the destinations where it belongs. For this purpose, it provides –
- Segmented client groupings
- Ready-made email templates
- Auto-schedule e-blasts
Personalize The Process
Boost creativity with rich design and customization. The platform makes it easy for the users to pick the right kind of customization for the specific portal. Doorr even helps to design one’s own website. This particular software would be able to capture the right essence of the required styling. It helps in –
- Customization of URL and branding
- Hide or show any input field on application forms
- Develop brokerage-wide standard settings
Conclusion
It is great to witness a Toronto-based prop-tech startup to bag funding of $1.75 CAD. The gained funds would be used to develop Doorr’s product. It is a great step to boost accuracy. Soon we would be able to lay focus on multiple factors from boosting deal velocity and client experience to compliance.
The startup had provided a simplified platform for the brokers and financial institutions. And now they are able to collaborate on purchases, pre-approvals with the help of a digital experience. The major goal of the creation of the platform was to provide visibility to consumers by streamlining the processes.
Because of the COVID-19 pandemic and the uncertainty surrounding the situation, the federal government is buying $50 billion insured mortgage debt. The outburst of coronavirus has given a boost to the migration of mortgage transactions to digital platforms for both financial institutions and brokers.
It would be interesting to witness what the technology has in store for us. If you still have any confusion regarding the technology, then reach out to the brood of talented professionals.
Remember that breakthrough is not possible with a bootless team. In case of any persisting doubt, make sure to do thorough research and then develop a proper understanding of the project.
Feel free to share with us your views on Doorr, the prop-tech Canada-based startup. We would love to eradicate all your doubts. But until the next exciting update about the technology, stay tuned to this platform for more information.
Image source: Freepik Premium
Article by