BlockGen Corp Closes First Round of Series A

BOCA RATON, Fla., April 22, 2019 /PRNewswire/ — BlockGen Corp, a newly formed holding company for LoanPASS and Block+Sovereign, is pleased to announce the completion of its first round of venture capital financing of Series A Preferred Stock. Cavatina Capital LLC led the transaction alongside Charterhouse Strategic Partners.

BlockGen's financial technology business is currently developing a next generation loan decisioning engine called LoanPASS. The solution was built on a modern engineering framework and cloud computing architecture (SaaS/PaaS). The unique structure allows for rapid execution and configuration of products and programs through its “rules service” technology, rendering complicated pricing and underwriting decisions to mortgage industry participants. LoanPASS is a Web based tool that empowers mortgage investors, lenders, brokers and banks with unparalleled control over loan product, pricing and underwriting decisions. Importantly, the platform does not require development support staff or programming skills and does away with 3rd party service providers.

"BlockGen represents an exciting opportunity to invest alongside an innovative management team who has developed a unique platform to address an extremely large market. It also provides us the opportunity to work alongside Bill Roy again after having worked with Bill on an earlier fintech investment and other blockchain investment opportunities. We look forward to working with Bill as he and his team continue to grow the business and develop an expanded suite of technology solutions for the financial services industry," said Thomas C. Dircks, Managing Director of Charterhouse Strategic Partners. Mr. Dircks will become a member of BlockGen's Board of Directors.

About Charterhouse Strategic Partners

Charterhouse Strategic Partners invests in North American based growth companies. The principals of Charterhouse Strategic Partners, while at Charterhouse, invested over $2 billion of institutional equity capital over the past 30 years and bring decades of board room experience to their portfolio companies having served as Chairman, former CEOs and Directors of various public and private companies. The firm invests its own capital into businesses it believes are able to create long-term value in growth markets.

About Cavatina Capital LLC

Cavatina Capital is a strategic investment fund managed and owned by Bill Roy.