Doorr has raised $1.75 million in seed funding led by Celtic House Venture Partners and with participation of MaRS Investment Accelerator Fund (IAF), Techstars and strategic angel investors.
Jonathan Graff, Venture Partner at Celtic House Venture Partners, will join Doorr board of directors.
Founded by Muhammad Rashid, Adam A. Hijleh, and Abbas Ali, Doorr is a cloud-based CRM and mortgage workflow technology that provides mortgage brokers and financial institutions a single environment to manage and interact with clients and partners (e.g. realtors).
Doorr intends to use funding to further capitalize on its position as a leader in the Canadian mortgage industry and for new product innovation and development.
photo credit: Doorr
News Release
Doorr raises over $1.75M, led by Celtic House and MaRS IAF, to build the future of mortgages
TORONTO, May 15, 2020 /CNW/ – Doorr is excited to announce that it has raised over $1.75M CAD in a Seed financing led by Celtic House Venture Partners and MaRS Investment Accelerator Fund, with participation from Techstars and strategic angel investors.
Doorr’s mortgage platform enables brokers and financial institutions to connect and collaborate with clients on all types of transactions (e.g. pre-approvals, refinances and purchases) through an entirely digital experience. The platform has become a mission critical tool for its customers to run their businesses effectively, as they have traditionally had to rely on poorly designed and antiquated industry tools and/or a variety of non-industry specific software to run their operations.
Jonathan Graff, Venture Partner at Celtic House Venture Partners said, “Doorr is migrating some of the largest producers in the Canadian mortgage industry onto its cloud-based platform, a testament to the benefits of its strong product and service offering. The founders have demonstrated deep technological capabilities that have enabled them to provide an ideal experience for mortgage brokers and their clients.”
“We see Doorr’s vertically-integrated platform as essential for enabling the mortgage broker channel,” said Connor Edwards, Senior Investment Manager, MaRS Investment Accelerator Fund. “I’ve been impressed with the team’s product-led growth and its ability to execute while keeping customers top of mind.”
The new investment round will enable Doorr to further capitalize on its position as a leader in the Canadian mortgage industry, where mortgage brokers and financial institutions are striving to maintain control of the customer journey and deepen their customer relationships. New product innovation is a key area of focus for Doorr, which will improve deal velocity, accuracy, compliance, and the overall client experience.
To learn more about Doorr or to sign up, please visit www.doorr.com.
About Doorr
Founded in February 2018, Doorr is a cloud-based CRM and mortgage workflow technology that provides mortgage brokers and financial institutions a single environment to manage and interact with clients and partners (e.g. realtors). The platform also streamlines and provides real-time visibility on the mortgage application and approval process for pre-approval, purchase and refinance transactions.
About Celtic House Venture Partners
Celtic House Venture Partners invests in outstanding teams that operate at the intersection of deep technology and SMB SaaS. We’ve brought many such companies to exit, delivering value to all stakeholders. The partnership builds on its experience as one of Canada’s most active investors in technology and innovation. From office in Ottawa and Toronto, Celtic House manages in excess of $425 million across three funds. It’s continually engaging with emerging teams with strong track records to apply new, cloud-based technologies to the evolving needs of Small and Medium Business.
About MaRS Investment Accelerator Fund
MaRS Investment Accelerator Fund (IAF) is an early stage venture capital firm based in Toronto. Since 2008, we have partnered with over 150 companies built by extraordinary founders. For more information, please visit www.marsiaf.com.
SOURCE Doorr
For further information: Muhammad Rashid, Co-founder & CEO, muhammad@doorr.com; Contact: Jonathan Graff, Venture Partner, jgraff@celtic-house.com; Contact: iaf@marsdd.com