Toronto-based Clik.ai, which helps users underwrite commercial real estate loans, has closed a fundraising round of $2.6 million CAD led by Redmore Properties Inc., Pavin Ventures, and others. Clik.ai will use the investment to develop its technology, data science, and product teams. It also plans to increase its data science research and development in India by hiring more experienced engineers.
“With machine learning and simplified on-boarding, [Clik.ai] will become the main disrupter in the loan servicing and origination space, and will further impact the [commercial real estate] asset management and brokerage sectors as the requirement to aggregate and exchange data from all sources within an ecosystem becomes a cost premium,” said Damien Moore, president of Redmore Properties.
Clik.ai currently helps commercial mortgage originators and servicers assess over $1 billion in mortgages monthly. Three of the top ten mortgage banking firms in the US work with Clik.ai, and the startup is also looking toward European and Australian markets.
StartUp HERE Toronto is a publishing partner of Betakit and this article was originally published on their site.