For important risk and disclaimer information, Click Here.

Industry

Property Technology

Company Type

Attorney Opinion Letter Platform

Size

$15 Million

Investment Type

Equity

Overview

Alita Group is seeking $15 million to grow the only platform that produces a fully insured, GSE-compliant alternative to title insurance, an insured Attorney Opinion Letter (AOL). 

  • First-mover in the new market for title alternatives 

 

  • Saves consumers thousands of dollars on closing costs 

 

  • Capital will be deployed to enhance the platform, accelerate sales/marketing, ramp up lobbying and PR, and fund working capital 

 

  • As the primary driver of GSE adoption and the only provider of a fully compliant, fully insured attorney opinion letter, Alita is positioned to replace title insurance in an estimated 20% of all purchase and refinance transactions, or approximately 1.2 million transactions annually

Opportunity

  • The average annual US mortgage origination volume over the past ten years is approximately $2.5T, according to the Housing Finance Policy Center

 

  • Alita is positioned to replace title insurance in a minimum of 20% of all US mortgage transactions

 

  • Serviceable Addressable Market of $507 billion – 1.1 million transactions annually based on the Mortgage Bankers’ Association’s average purchase loan amount of $444,100

 

  • Alita expects to capture approximately 0.28% of the total market in 2024, or approximately 19,000 transactions for total revenue of $4.6 million

 

  • By year three, Alita hopes to capture 6% of the total market, which equates to approximately 413,000 transactions and total revenue of $37 million

Solution/Strategy

  • With AOLPro, Alita is not only introducing a new product to the market, but is creating a new market with multiple entry points and distribution channels to support an unlimited number of market participants

 

  • The unique components of the AOLPro platform were built over a four-year period and refined in collaboration with agencies, GSEs, and lenders – not easily or quickly replicated

 

  • The depth of expertise, together with scalability for competitive pricing, incentivizes participants in a buy vs. build analysis to license the AOLPro platform rather than develop their own
Learn More About Alita Group

Thank you for your interest in Alita Group.

Please fill out your information and we will contact you shortly with more information on this opportunity.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

Sending