Atlanta-based real estate fintech startup Bank Shot received an investment from venture-capital firm Rule 1 Ventures and named a new CEO.
The new executive, Emily Traxler, is a certified customer success expert for tech startups and will take the company’s reins from founders Bernadine W. Drake and Glenn Drake, who developed the app for their own real estate brokerage, Drake Realty.
Bank Shot has a patented mobile app that allows participants in the real estate and title industries to manage and deposit earnest money, real estate funds, rental deposits and more through their devices. The company has experienced rapid growth during the pandemic, as its technology facilitates the remote transfer of funds without the need to visit a bank or office to hand over a paper check.
Rule 1 Ventures is a venture studio that co-founds companies by providing the people, processes and resources needed to accelerate speed to market, value creation and profitable growth.
“There was major interest in Bank Shot, ranging from venture capital to companies looking to buy the product,” Glenn Drake said in a release. “It was crystal clear to us that Rule 1 Ventures was the best choice to launch, innovate and grow Bank Shot. They bring to the table comprehensive and expert software developers, the highest compliance with cyber security, a superior operations department and more — this made partnering up an easy decision.”
Before joining Bank Shot, Traxler was the vice president of customer success for SingleOps. Before that, she was at Clockwise.MD, another software-as-a-service startup, where she originated teams in sales and operations.
“I’m excited to take the helm at Bank Shot,” Traxler said. “The mobile app and portal allow all parties in a real estate transaction to save time and money while remaining compliant. Everything about a real estate closing went digital years ago, except for the payment side, which Bank Shot has now digitized.”