Phil Pelanek
Madison, WI (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Mortgage Assurance Corp
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Startup
Location:
Madison
Industry:
Insurance
Year Founded:
2009
Number Employees:
10-50 people
Description:
Mortgage Assurance Corp is looking for $5 - 7 Mil in additional working capital so that we can continue to build-out our Private Mortgage Insurance business. Mortgage Assurance Corp is located in Madison, WI and licensed by the state of Wisconsin. We successfully raised approximately $7 million in August 2009 from a group of investors, including MAC management, to develop our information technology systems and hire essential personnel. MAC is currently building its internal IT systems in partnership with several vendors and liaising with the GSE's, state insurance regulators and lenders towards a launch date in the first quarter of 2011. MAC will use the capital raised to continue operations and IT development.