Toorak Capital to create proprietary loan-acquisition tech
Updated: Feb 14, 2020
Toorak Capital Partners, a private real estate capital lender, has invested in a proprietary technology platform that would automate the loan submission, review, and closing processes.
The firm has brought on industry veteran Sachin Venugopal to lead the development of the automated loan-acquisition platform as chief technology officer. Venugopal will also be responsible for improving overall operations and efficiency of the company’s technology suite.
“Toorak Capital Partners has always strived to provide the best possible service for our partner lenders,” said John Beacham, CEO of Toorak Capital Partners. “We are committed to take our customer service to the next level by investing in a new technology platform. We’ve always felt that if it’s easy for our customers to work with us, our business will grow. This belief has proven true over the years, and it is the reason we have hired a top-tier CTO, like Sachin Venugopal, to upgrade our technology platform.”
Venugopal has more than two decades of experience building customer-centric digital platforms at AQR Capital, McGraw Hill, and LexisNexis.
“Toorak is a data-focused capital provider which understands that technology and customer experience go hand in hand,” Venugopal said. “Our goal is simple – make the loan process easy and efficient for our lenders. Toorak has been remarkably innovative in its approach, and I’m incredibly excited to be part of an amazing team focused on further improving and streamlining the loan process for lenders.”
Since 2016, Toorak Capital has funded over $3 billion in single-family residential bridge loans. The firm also provides ground-up construction loans and single-family rental term loans.