ClosingLock Acquires SafeWire
December 14, 2021
ClosingLock, a wire fraud prevention, has completed its acquisition of select assets of Ohio-based SafeWire, which provides software to title companies to combat wire fraud.
"This acquisition allows ClosingLock to offer SafeWire's customers a broader portfolio of tools to combat wire fraud,” said Andy White, CEO and co-founder of ClosingLock. “We remain committed to our mission of ending wire fraud in real estate, and this acquisition moves us closer to that goal.”
ClosingLock provides a secure platform for title companies, law firms and other financial services to protect themselves and their clients from wire fraud.
"We came up with the idea of SafeWire in 2016 because this problem (of wire fraud) terrified us,” said Chris Sauerzopf, CEO of SafeWire. “As a title company owner, we had no clue how this was happening. The idea that a member of our staff could have a bad day and potentially send money to the wrong account was something that frightened us and would have been devastating to both our clients and our business. We chose to partner with ClosingLock for several reasons. Andy and his team are great people with an aligned vision of fraud-free real estate transactions for everyone. They have built an incredible business and have a product that far exceeds any other competitors in the space.”
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