Ron Jasgur and two of his partners started Woodward Asset Capital in 2007 when the real-estate market began to implode. Their idea was to help big banks handle bulk foreclosures. It worked. The Southfield-based company has since leveraged its success to evolve to a software firm in recent years.
Woodward Asset Capital found solid success with its original business model in its first years. However, it's owners saw more opportunities to create efficiencies for banks handling those foreclosures. The company created software that streamlined the foreclosure process, such as as complying with local ordinances and preventing fraud.
"We have gone from a bricks-and-mortar acquisition company to an online technology company in less than five years," says Jasgur, president of
Woodward Asset Capital. "Our vendor relations and clients are the same but we serve them differently."
That transition has allowed Woodward Asset Capital to grow its revenue by 30 percent and hire three people in customer service. It now employs a staff of eight and is looking to hire two more software coders.
Source: Ron Jasquar, president of Woodward Asset Capital
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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