Thursday, October 15, 2015

USAA Backs Mortgage Automation Startup, Roostify

San Antonio-based financial service provider USAA has lead an investment in a startup developing mortgage application and automation software, Roostify, in Roostify's Series A funding. Roostify did not say how large of an investment was made into the company, but said USAA lead the investment round the company, which also included Colchis Capital and two un-named banks. Roostify automates many parts of the mortgage loan process. USAA says its invests in companies which are developing innovation to help it better serve its members; the company's investments in Roostify were led by Executive Director of Corporate Development Michael Smith. USAA invested in a number of startups over the years, including Truecar, Coinbase, Personal Capital, MX, and others.