DepositLink, the industry leader in electronic payments for residential real estate transactions, announced the close of its successful Series Seed financing. The $3.5 million raised from angel investors will bolster Deposit Link’s sales team, enhance technology, and boost infrastructure to accelerate marketplace adoption and the company’s development roadmap.
DepositLink is a mobile responsive payments platform that is revolutionizing the way money moves in the residential real estate business. Paper checks have long created inefficiencies in the residential real estate business, and bank wires are risky, expensive, and hard to track. With DepositLink, real estate and title companies can collect earnest money deposits, send and request commission payments, issue refunds, and request rental deposits electronically. Payments made on DepositLink’s platform guarantees good funds through the ACH network in less than one business day.
DepositLink launched into production in October 2019 and now has customers in all 50 states. “We set out to build the most secure and robust payments platform for the residential real estate business and the response has been incredible,” said Jay Rooney, CEO & Founder of DepositLink. “This capital raise will allow us to increase capacity to manage our growth and continue to develop features that are making real estate companies and title companies more efficient and more profitable.”
Benefits for Real Estate & Title Companies
Benefits for Real Estate Agents
Benefits for Consumers
Darrell West, CFO of DepositLink, adds that the residential real estate market has been longing for a comprehensive electronic payments solution that fully addresses the needs of brokers, real estate agents, and consumers. “We set out to raise $3.5 million and were well oversubscribed. Investors recognize that DepositLink’s unique product offering is fueling our extraordinary growth.”
DepositLink was designed by experienced real estate brokers. Clients include Berkshire Hathaway Home Services, Better Homes and Garden Real Estate, Century 21 Real Estate, Compass, Douglas Elliman, ERA, Home Services of America, HomeSmart, Keller Williams, RE/MAX, and Sotheby’s International Realty.
To schedule a personalized demo of the DepositLink platform, please call 1-833-DEP-LINK or visit www.depositlink.com.
About DepositLink
DepositLink is a simple, secure, and efficient way for real estate companies and escrow holders to collect earnest money deposits and commissions electronically through the ACH network. No cost to companies or agents.
Contact:
Courtney Medlin
Director of Marketing, DepositLink
courtney@depositlink.com