Vesta, a San Francisco, CA-based mortgage loan origination system software-as-a-service (SaaS) company, raised $30m in Series A funding.
The round, which brought total raised since November 2020 to $35m, was led by Andreessen Horowitz with participation from Zigg Capital, Conversion Capital and Bain Capital Ventures.
The company intends to use the funds to expand its hiring plans and its SaaS technology to customer environments.
Founded by early Blend employees Mike Yu and Devon Yang in 2020, Vesta is a provider of a SaaS platform for mortgage loan origination software, connecting banks, credit unions, mortgage bankers and brokers. The technology provides a customizable platform for mortgage origination, supporting approval, underwriting, closing and funding of home loans.
The platform features:
- a System of record for loan origination data and documents that is fault tolerant, performant, and fully audited
- a Customizable workflow engine that orchestrates the origination process across the many parties involved: borrowers, loan officers, processors, underwriters, and other settlement providers
- an Open APIs and ecosystem enabling lenders to choose their partners or build their own point solutions