Better Mortgage, a NYC-based technology-driven direct mortgage lender, closed a $30m Series A funding.
Backers included Goldman Sachs Principal Strategic Investments group, Pine Brook, KCK Group, and IA Ventures.
The company intends to use the funds for continued technology development and national expansion of its digital mortgage origination platform, Better.com.
Led by CEO Vishal Garg, Better.com provides an online platform featuring 24/7 online access, status updates, bank account linking, file upload, and e-sign capabilities to streamline the fulfillment process, as well as licensed, non-commissioned loan officers for support. Launched in January 2016 in California, Washington, and Oregon, the platform has since originated over $160m in loans with plans to begin lending in an additional 15 states over the course of this year.