Better Mortgage raises $15 million to pay for new expansion
Better Mortgage has always been helping other people get loans for their new home purchase. In fact, they have lent out more than $500 million to their customers over the years. Now, they will be expanding their business and have raised $15 million to pay for their expansion.
Since launching in roughly one year ago, online mortgage lender Better Mortgage funded more than $500 million in loans, and now the company plans to expand thanks to a $15 million round of funding.
The company announced recently that it completed Series B funding from three investors, including Goldman Sachs, which is increasing its investment in the online lender.
Last year, Goldman Sachs invested $30 million in Better Mortgage, which was the first investment in a mortgage bank by a major Wall Street firm in almost 10 years.
Now, Goldman Sachs is investing again, along with Kleiner Perkins and Pine Brook.
According to the company, it will use the money to support the launch and expansion of Better’s home purchase finance product on the company’s website, Better.com. Via housingwire.com