Houston, Texas-based Stewart Information Services Corporation Tuesday announced its acquisition of Cloudvirga, a fintech company powering digital mortgages.
As the press release from Stewart puts it, the acquisition adds "an industry-leading customer engagement technology platform to the Stewart family."
Stewart reports that the addition of Cloudvirga strengthens Stewart’s positioning in the mortgage finance space and further enables Stewart’s ability to serve customers in all markets.
“By bringing Cloudvirga’s capabilities and solutions to the Stewart family, we further demonstrate our commitment to creating an industry-leading platform for customers to drive ease-of-use throughout the real estate transaction,” said Stewart CEO Fred Eppinger. “Combined with our newly acquired capabilities such as RON, a notary network and valuation services, Cloudvirga’s platform will accelerate our digital offerings in all markets, complement our existing capabilities and enhance our ability to provide customers with end-to-end mortgage services and solutions.”
Founded by industry experts in 2016, Cloudvirga is a customer engagement platform and digital origination platform that powers Lenders, Originators, and Brokers while also automating back-office tasks. Several of the largest lenders in the country rely on Cloudvirga as their digital front-end solution.
“We are excited about the opportunity to join Stewart at this important time in our industry,” said Kyle Kamrooz, Co-Founder & CEO, Cloudvirga. “Having the backing of an industry leader like Stewart will allow us to increase value to our customers as we streamline and accelerate the origination process.”
Houlihan Lokey acted as exclusive financial advisor to Cloudvirga in this transaction.