The Canadian parent of mortgage appraisal management firm Solidifi, whose U.S. headquarters is on Seneca Street, is going public on the Toronto Stock Exchange so it can access more capital to support its growth plans.
Markham, Ont.-based Real Matters Inc. filed a prospectus with Canadian authorities in each of that country's provinces and territories for an initial public offering of common shares and a secondary offering of shares already held by certain shareholders. The number and price of the shares have not been determined, but they will not be marketed or sold in the United States.
Real Matters was founded in 2004 to use technology to better manage inefficient processes in both the mortgage and insurance industries, such as finding and coordinating appraisers to value properties for lenders. Its Solidifi division was founded in 2008 in Chicago but moved to Buffalo shortly after acquiring Buffalo-based Kirchmeyer & Associates to create the No. 3 U.S. appraisal management company. Its offices are in the Larkin Center of Commerce on Seneca Street.
Besides Solidifi, Real Matters also owns Linear, which provides title and mortgage closing services in the United States, and IV3, which serves the Canadian property and casualty insurance industry. Its other offices are in Cincinnati and Middletown, R.I.
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