Stavvy acquires Brace in an undisclosed deal

Stavvy, a fintech that digitalizes the finance processes for real estate professionals, announced that it has acquired Brace, a mortgage SaaS platform. The details of the acquisitions were not disclosed. 

“Stavvy and Brace's unified services are set to deliver an unparalleled solution, encompassing every critical stage of default servicing - from the initial homeowner inquiry to the ultimate resolution," said Kosta Ligris, chief executive and founder of Stavvy said, "our unified team of industry experts combined with research and investments in generative AI and customizable workflows positions Stavvy to independently reduce the need for antiquated mortgage processes, revolutionizing the experience for all stakeholders involved."

Brace was started in 2017 by seasoned fintech venture capitalist Eric Rachmel and had raised over $30m since 2021. The mortgage SaaS platform’s most recent funding round in November 2021, a series B, raised the firm $15.7m. The round was led by Canvas Ventures and had additional funding from Point72 Ventures and Crosslink Capital

“Their [Stavvy]  vision of streamlining real estate transactions perfectly aligns with our unwavering dedication to promoting transparency in the servicing process,” Brace chief executive Eric Rachmel said on LinkedIn,  “together, we are committed to empowering homeowners, servicers, lenders, and investors with intuitive tools that optimize the servicing process.” 

While the details of the deal weren’t disclosed, financial services firm Keefe, Bruyette & Woods was listed as “the exclusive M&A advisor to Brace”.