Company is targeting tech businesses as it accelerates offerings in all markets
Cloudvirga, a digital mortgage tech provider, has been snapped up by real estate firm Stewart, the company revealed Tuesday.
According to the firm’s announcement, the acquisition strengthens Stewart’s foothold in the mortgage finance space and further enhances its ability to serve customers in all markets. Financial terms of the deal were not disclosed.
“By bringing Cloudvirga’s capabilities and solutions to the Stewart family, we further demonstrate our commitment to creating an industry-leading platform for customers to drive ease-of-use throughout the real estate transaction,” said Stewart CEO Fred Eppinger. “Combined with our newly acquired capabilities such as RON, a notary network and valuation services, Cloudvirga’s platform will accelerate our digital offerings in all markets, complement our existing capabilities and enhance our ability to provide customers with end-to-end mortgage services and solutions.”
Formed in 2016, Cloudvirga is a customer engagement platform and digital origination platform that provides lenders, originators, and brokers with a digital front-end solution. The company reported “phenomenal growth” in 2020, with its application volume surging by more than 300%.
“We are excited about the opportunity to join Stewart at this important time in our industry,” said Kyle Kamrooz, co-founder and CEO of Cloudvirga. “Having the backing of an industry leader like Stewart will allow us to increase value to our customers as we streamline and accelerate the origination process.”
