Better Mortgage operates an online mortgage marketplace connecting borrowers with institutional investors for residential home loans. The platform offers fixed-rate and adjustable-rate mortgages, jumbo loans, refinancing, title services, and homeowners insurance. Its automated underwriting and digital-first workflow shorten approval times while improving transparency for homebuyers. Once funded, loans are transferred to investor partners, while Better continues managing servicing. By reducing paperwork and leveraging technology, Better Mortgage has reshaped modern home financing.
What Is Better Mortgage and What Does It Do?
Better Mortgage, founded in 2014 by Vishal Garg, Shawn Low, Zander Rafael, and Andrew Unger, is a New York City-based (United States) digital lending and home-financing company.
The platform enables consumers to apply for mortgage loans entirely online offering fast approvals, transparent rates, and seamless refinancing options.
Better Mortgage uses AI-driven processes to streamline underwriting, connect borrowers with institutional capital, and reduce traditional lending inefficiencies. With products spanning home loans, refinancing, title, and insurance, the company modernizes the end-to-end homebuying experience.
How Much Funding Has Better Mortgage Raised?
- Series E
• Amount Raised: $500M
• Date: April 2021
• Lead Investors: SoftBank
• Motivation: To scale Better’s digital mortgage marketplace, expand automation capabilities, and accelerate national growth. - Series D
• Amount Raised: $200M
• Date: November 2020
• Lead Investors: L Catterton, Ally, American Express, Activant Capital, Ping An, 9Yards
• Motivation: To boost operational infrastructure and support rapid demand during the pandemic home-buying surge. - Series C
• Amount Raised: $160M
• Date: August 2019
• Lead Investors: AGNC Investment Corporation, Activant Capital, Kleiner Perkins, Hoopp, Pine Brook, Citi, Ally, American Express Ventures, Goldman Sachs Investment Partners
• Motivation: To enhance mortgage automation tools and expand investor partnerships.
Total Funding Raised: $980 Million
Current Valuation: $6 Billion (as of April 2021)
Latest Funding Date: April 2021
Key Investors
- SoftBank
• Details: A global investment powerhouse known for backing disruptive technology companies.
• Investment Focus Areas: Fintech, AI, marketplaces, real estate tech.
• Notable Investments: Uber, WeWork, Opendoor, Better Mortgage. - Activant Capital
• Details: Growth-stage investor specializing in commerce infrastructure and fintech.
• Investment Focus Areas: Fintech, commerce enablement, supply chain, enterprise tech.
• Notable Investments: Deliverr, Bolt, Better Mortgage. - AGNC Investment Corporation
• Details: A leading REIT investing in residential mortgage-backed securities.
• Investment Focus Areas: Real estate, mortgage credit, digital mortgage innovation.
• Notable Investments: Better Mortgage. - Hoopp (Healthcare of Ontario Pension Plan)
• Details: One of Canada’s largest pension funds.
• Investment Focus Areas: Real estate, fintech, long-term growth assets.
• Notable Investments: Better Mortgage, Clearco.
Where Is Better Mortgage’s Headquarters?
Better Mortgage is headquartered in New York City, United States, giving it direct access to the world’s largest financial ecosystem. The strategic location enables partnerships with major lenders, regulatory alignment, and access to specialized mortgage technology talent supporting its mission to digitize home financing.
What’s Next for Better Mortgage?
Better Mortgage aims to deepen its automation technology, improve AI-based underwriting, and expand its mortgage and insurance ecosystem. The company is expected to enhance regulatory compliance tools, increase partnerships with institutional investors, and broaden its product offerings for refinancing and homeownership services. Despite industry headwinds, Better continues positioning itself as a leader in digital lending innovation.
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