CertifID, a wire fraud protection company, recently announced a $20 million Series B funding round led by Arthur Ventures. This investment will help the company to continue developing its products and scaling operations in order to meet the demands of the real estate industry.
Wire fraud has grown exponentially in the real estate sector, with the FBI reporting a 72 percent surge in business email compromise from 2020 to 2022. To help protect against this growing threat, CertifID provides products and services to verify banking and identity details of real estate transactions, as well as up to $1 million in direct coverage on every wire protected. This funding round will help the company to continue to safeguard against these risks.
In the past year, CertifID has seen significant success with the launch of its PayoffProtect product. It also doubled its customer base and established new enterprise partnerships. The company serves customers including title companies, law firms, lenders, realtors as well as home buyers and sellers.
