UpEquity Closes $50M Series B Funding Round

UpEquity, an Austin, Texas-based tech-enabled mortgage company, closed a $50m Series B funding round.

The $20m equity round was led by S3 Ventures, with participation from Next Coast Ventures, BP Capital Management, Alumni Ventures, Gaingels, Launchpad Capital and Early Light Ventures. As part of the funding round, S3 Ventures Partner Charlie Plauche will be joining the UpEquity board. The round also included $30m in debt.

The company, which has raised a total of $77m to date, will use the funds to expand its business reach.

Co-founded by Tim Herman and Louis Wilson, UpEquity gives every homebuyer the opportunity to make a competitive offer on homes. Its Buy with Cash program helps homebuyers make an all-cash offer while its differentiated mortgage technology works at speed to provide a mortgage experience for its customers.