The raise is the largest Series A in New England FinTech, LegalTech and PropTech history
Mintz advised Stavvy, a Boston-based FinTech company, in a $40+ million Series A funding round led by private equity and venture capital investment firm Morningside Technology Ventures. Notably, the raise is the largest Series A in New England FinTech, LegalTech and PropTech history.
The investment will be used to expand the company’s aggressive hiring initiative to accelerate growth in paperless and digital solutions for banking and lending, which has seen explosive demand and interest, especially in loan servicing, a critical solution during the COVID-19 pandemic.
In addition to the funding round, Mintz also advised Stavvy in its alliance with Flagstar Bank, the sixth-largest bank mortgage originator in the country, to provide remote loan modification services.
Founded in 2019, Stavvy designs platforms to manage security risk, eliminate fragmentation, and increase speed, efficiency, and transparency in lending and banking. The company’s mission is to transform how business is conducted remotely by making complex legal and financial transactions easier, safer, and more accessible to all. Its software includes eClosing functionality like remote signature, remote notary, and video conferencing tools that enable businesses, lenders, and their customers to perform remote transactions.
The Mintz team that advised Stavvy in the Series A funding round was led by Member Dinesh Melwani and the Mintz team that advised Stavvy in its partnership with Flagstar was led by Associate Alexander Civetta and Mr. Melwani.
Mintz has a strong technology sector focus and represents innovative companies throughout the business lifecycle, with a passion for supporting startups and entrepreneurs. The firm’s attorneys provide legal services for start-ups, facilitate financing for growing companies, negotiate strategic transactions and collaborations for a variety of stakeholders, and help clients achieve regulatory compliance, protect their intellectual property assets, and more.