UPDATED, July 28, 9:40 p.m.: Expetitle, a Miami-based title company startup led by co-founder and CEO Sean Daly, completed its $850,000 seed fundraising round, The Real Deal has learned.
Five investors, including the Fort family of Miami-based Arquitectonica; Miami-based Caoba Capital Partners, a family office and investment firm; and Beagle Ventures, a Chile-based investment firm, participated in the round, bringing the company’s total funds raised to more than $1 million.
Expetitle plans to raise its Series A round within the next eight to 12 months, with “several million dollars” committed, Daly said.
The company, founded in January 2019 out of a LAB Ventures startup studio, offers fully remote and hybrid closings through a secure platform. Expetitle has performed closings throughout Florida, and experienced 100 percent growth during the pandemic, he said.
The $850,000 will be used to increase sales and marketing efforts, launch new joint venture partnerships with brokerages and continue building out the company’s technology, Daly said. Expetitle is partnering with Castelli Real Estate and is negotiating two other partnerships with brokerages.
“We were well-positioned to capture market share,” he added. “In reality, what we found is our business doubled, nearly tripled, because of this [pandemic].”
Write to Katherine Kallergis at [email protected]