Attributes 2,513% revenue growth to launching successful tech-enabled solutions designed to help local mortgage lenders gain efficiency, scale, and flexibility through changing market conditions
Denver, CO, November 17, 2021—Maxwell today announced it ranked 65th on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27th year. Maxwell grew its revenue by 2,513% during the evaluated period.
Founded in 2015, Maxwell aims to modernize the mortgage process by offering forward-looking technology that goes beyond loan applications and document management. Designed exclusively for local and regional lenders that serve America’s communities, Maxwell’s suite of solutions addresses the entire mortgage process, making it faster, cheaper, and more efficient for lenders and their borrowers. To date, Maxwell has facilitated over $150 billion in loan volume, helping the over 300 lenders on the platform close loans 13 days faster.
Maxwell’s Co-founder and CEO John Paasonen attributes the company’s rapid growth to impactful solutions the company has released over the past few years. “Our team has been incredibly focused launching and enhancing offerings that transform the mortgage origination process for our lenders. Today, the Maxwell Mortgage Optimization Platform empowers clients at each step of the mortgage process, from intake of application to the secondary market,” said John. “We could not have built the game-changing solutions we offer today without our dedicated team’s hard work and the invaluable input we’ve received from our customers and partners.”
Maxwell’s ranking on Deloitte’s list is especially meaningful in light of the unique challenges presented by the COVID-19 pandemic. As the mortgage market shifted, Maxwell pivoted its strategy to meet the rapidly growing technology and loan fulfillment needs of small and midsize lenders across the country.
“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”
Overall, 2021 Technology Fast 500™ companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Maxwell’s Mortgage Optimization Platform provides America’s local lenders with forward-looking technology and solutions for the entire mortgage origination process, from intake of application to the secondary market. Backed by industry expertise, Maxwell’s comprehensive offerings help lenders stay ahead of the competition while improving their workflow and margins. Each day, Maxwell empowers over 300 mortgage lenders, banks, and credit unions to serve tens of thousands of homebuyers a modern lending experience. Lenders on Maxwell close loans 13 days faster and enable their loan officers to close over 15% more loans per month.
Founded in 2015, Maxwell is a member of the Mortgage Bankers Association and is built in Denver, Colorado. Since 2017, it has been named one of the most innovative companies in real estate by HousingWire Magazine and recently ranked as the 15th fastest-growing software company in the U.S. on the Inc. 5000 list.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting.