August 18, 2021
Candor Technology announced on Wednesday that it closed $12.5 million in a Series A fundraise, led by early-growth capital firm Arthur Ventures.
The new round brought total investments for the lending technology company — which uses machine intelligence to power its mortgage underwriting platform — to $13.9 million with its previous debt financing closed at $1.4 million in October 2020, according to Crunchbase.
Candor aims to bring better consistency to underwriting. The latest injection of money will go toward further developing the company’s Loan Engineering System. The system is a patent-pending decision engine with 37,741 pivot points. It’s also part of a larger innovation Candor’s trying to establish called Mortgage Decision Science Technology.