🐐 Closinglock Secures $34M in Funding to Strengthen Fraud Prevention in Real Estate
What This Means for Title Agents Who are Fighting Fraud
Closinglock Secures $34M in Funding to Strengthen Fraud Prevention in Real Estate
Real estate fraud is on the rise, and title agents are on the front lines of protecting transactions from wire fraud, identity theft, and cybercrime. That’s why the latest news from Closinglock should be on every title professional’s radar.
The real estate fraud prevention company just secured a $34 million Series B funding round led by Sageview Capital with support from Headline and RWT Horizons. This investment will allow Closinglock to expand its technology and fraud prevention solutions—critical tools for title companies looking to protect funds, streamline closings, and ensure compliance.
“We are thankful Closinglock is trusted by thousands of title agents to secure their real estate transactions from the escalating threat of fraud while improving workflow efficiency,” said Andy White, CEO and co-founder of Closinglock. He added, “This new funding will unlock the next chapter in our journey to power and protect all real estate transactions while ensuring the secure and seamless flow of funds in every deal.”
A Growing Threat: Why Real Estate Fraud Protection Matters to Title Agents
Real estate wire fraud and business email compromise (BEC) scams are among the biggest financial threats in the industry. According to the FBI’s 2023 Internet Crime Report, consumers reported nearly $3 billion in real estate-related losses, with the average victim losing $143,000 per attack.
“Buying a home is the largest investment most families ever make — but one fraudulent email could send your life savings right into the hands of a scam artist. We’re here to make sure that doesn’t happen,” said Andy White, CEO and co-founder of Closinglock.
Closinglock, which provides secure wire transfers, identity verification, and fraud prevention technology, has been fighting these threats head-on. The company has already:
✅ Protected over 1 million transactions totaling more than $500 billion
✅ Prevented more than $1.2 billion in fraud losses
✅ Blocked over 8,250 fraud attempts
As real estate fraudsters become more sophisticated, title companies need modern, proactive solutions to protect transactions from cybercriminals—and Closinglock’s latest funding round will help expand these protections.
What Closinglock’s Expansion Means for Title Agencies and Settlement Providers
With this new funding, Closinglock is doubling down on fraud prevention, compliance, and transaction efficiency. Here’s what title professionals should expect in 2025:
1️⃣ Enhanced Wire Fraud Protection
Closinglock’s Good Funds Payments tool has already facilitated over $600 million in secure payments. This tool allows homebuyers to send down payments and other transaction funds securely from their desktop or mobile device—reducing the risk of fraud and eliminating outdated payment methods like cashier’s checks.
With new funding, Closinglock will continue to refine and expand its payment security offerings, making it easier for title companies to ensure every wire transfer is protected.
2️⃣ Stronger AI & Deepfake Fraud Detection
One of the biggest growing threats in real estate is the use of artificial intelligence (AI) and deepfake scams. Fraudsters are now using AI-generated emails, voice cloning, and synthetic identities to bypass traditional fraud detection methods.
Closinglock is actively investing in advanced fraud detection technology to identify suspicious patterns and stop fraudulent transactions before they happen.
3️⃣ Expanded Partnerships & Integrations
Closinglock already integrates with top title production software like SoftPro, ResWare, and RamQuest. In 2024, the company expanded its ecosystem with:
✅ A partnership with J.P. Morgan to enhance secure payments
✅ A Docusign integration to streamline eSignatures and document management
✅ Upgraded identity verification tools, generating over 400,000 identity reports
These integrations help title agents reduce risk while maintaining smooth, compliant closings. The Series B funding will enable Closinglock to expand its reach and develop even more partnerships to improve efficiency in the settlement process.
What Title Agencies Should Do Next
🔹 Evaluate Your Fraud Prevention Strategy
Wire fraud and cybercrime are only getting more sophisticated. If your title company hasn’t yet implemented a secure payment platform, now is the time to explore Closinglock’s solutions—or risk falling behind.
🔹 Consider the Benefits of Good Funds Payments
Many title companies are still relying on outdated payment methods like cashier’s checks and unsecured wire transfers. Closinglock’s Good Funds Payments tool provides a secure, compliant way to handle real estate transactions digitally.
🔹 Watch for More Innovations in 2025
Closinglock’s investment in fraud prevention technology means title agents will have more tools to protect their transactions than ever before. Expect to see expanded AI fraud detection, more secure payment options, and stronger compliance tools rolled out over the next year.
As fraudsters continue to evolve, so should the industry’s approach to protecting transactions. This $34 million investment ensures that Closinglock is leading the charge in keeping real estate transactions secure.
For more information, visit Closinglock.com.
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