EXCLUSIVE: Beeline Raises $5 Million Via Private Offering, CEO Invests $2.9 Million To Drive AI Mortgage Growth

Eastside Distilling, Inc. (d/b/a Beeline Holdings) BLNE has closed a $5 million private placement. Over half of the capital came from Nick Liuzza, the founder and CEO of Beeline Financial Holdings, who invested $2.9 million.

The company will deploy the funding to accelerate growth, reduce debt, and expand Beeline’s AI-driven, low-cost mortgage origination platform.

Last September, Eastside Distilling announced its merger deal with Beeline Financial Holdings, a privately held mortgage technology company. 

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Additionally, the investment will fuel the rapid development of its wholly-owned subsidiary, Beeline Labs, Inc., which operates a SaaS business and is transforming mortgage quality control and compliance with cutting-edge automation.

This financing follows the recent capital raise by MagicBlocks, of which Beeline Financial Holdings was a founder, and the launch of BlinkQC, an AI-powered mortgage quality control (QC) solution that streamlines compliance, auditing, and risk mitigation for lenders.

Beeline will provide a comprehensive update on its platform-wide advancements and growth trajectory in its upcoming fourth-quarter 2024 earnings report next month.

Price Action: BLNE stock closed higher by 1.92% at $0.6584 Tuesday.

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